In Canada, What Is the Name of the Highest-Ranking Official

question 105

Multiple Choice

In Canada, what is the name of the highest-ranking official appointed by the Crown to lead the political executive at the federal level?

• A) head of government
• B) first minister
• C) prime minister
• D) All of the above

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Definitions:

Utility-maximizing

The economic principle that individuals or firms seek to get the highest satisfaction or profit from their resources and choices.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a market.

Law of Diminishing

The principle that states that as one input variable is incrementally increased, there will be a point at which the added output per unit of input will start to decrease, holding all other inputs constant.

Price-elasticity

A measure of how much the quantity demanded or supplied of a good responds to a change in its price.