Canadaʹs Economy Expanded By

question 388

Multiple Choice

Canadaʹs economy expanded by...0.1 percent in the second quarter...further evidence that the economy has stalled...following a first quarter slip in gross domestic product. The second quarter figures fell well below forecasts of a 0.7 per cent growth in real GDP. Exports. fell for the fourth consecutive quarter. The accumulating gloom is increasingly
discouraging business investment. Consumer spending remains strong and corporate profits were at their highest since 2004. ʺThe sources of strength in the second quarter are clearly unsustainable,ʺ said Sal Gautieri, senior economist at BMO capital markets.
Canada Avoids Fall into Recession, www.FT.com, by Christopher Mason, August 30, 2008
-According to the article, the best description of Canadaʹs position in the business cycle is

• A) in a recession
• B) in an expansion
• C) at a peak
• D) at a trough

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Definitions:

Concrete Operational

A stage in Piaget's theory of cognitive development where children begin to think logically about concrete events.

Preoperational

A stage in Piaget's theory of cognitive development, typically from ages 2 to 7, where children begin to engage in symbolic play and struggle with logic and taking the perspective of others.

Postformal Operational

A stage of cognitive development proposed to follow Piaget's formal operational stage, characterized by the ability to deal with complex, ambiguous, and contradictory information.

Personal Fable

A manifestation of adolescent egocentrism in which adolescents believe their thoughts, feelings, and experiences are more special and unique than anyone else’s, as well as the sense that they are invulnerable.