The Reason Canada Fared Differently Between the First Two Oil

question 104

Multiple Choice

The reason Canada fared differently between the first two oil shocks and the third is because ________.

• A) a nominal anchor was in place during the third oil shock in 2007
• B) by 2007 Canada became a net exporter of oil, so Canadians benefitted from higher oil prices
• C) in 2007, the global financial crisis overshadowed any oil price shocks
• D) none of the above

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Definitions:

Dense Coastal Fog

A thick fog that forms in coastal areas, usually due to the cooling of warm, moist air over cooler ocean currents.

Temperate Deciduous Forest Biome

A biome characterized by four seasons, including a distinct winter, and trees that lose their leaves annually.

Vegetation

The plants and plant life of a region or ecosystem, serving key roles in habitats by providing food and oxygen and influencing water cycles.

Increasing Latitude

Refers to moving towards the poles (north or south) from the equator, generally associated with changes in climate, biodiversity, and daylight hours.