One of the Results of the Restrictive Monetary Policy Adopted

question 17

Multiple Choice

One of the results of the restrictive monetary policy adopted by the Bank of Canada in the early 1980s was that

• A)inflation fell dramatically and real GDP remained at full employment levels.
• B)inflation fell dramatically,but was accompanied by a major recession.
• C)inflation remained over 10%,but the Bank of Canada avoided a major recession.
• D)inflation remained over 10% and there was a major recession.
• E)unemployment fell,but inflation accelerated due to higher interest rates.

Understand the spectrum of failure from blameworthy to praiseworthy and the role of ethical boundaries in failure.

Recognize the impact of mindset (growth vs. fixed) on perception and reaction to failure.

Appreciate grit as a quality in entrepreneurship and its components.

Know strategies to create a blame-free environment conducive to learning and innovation.

---

Definitions:

Office Operations

The day-to-day activities and tasks that are essential for an office or organization to function effectively and efficiently.

National Trend

A general development or change in behavior, attitudes, or preferences that is observed across a country or nationally.

Taste Test

An experiment or survey in which individuals sample and evaluate the flavor of different food items or beverages.

Induction

A process of reasoning from specific cases to general principles or the formal introduction of a person into a position or organization.