In 1994, the Federal Minister of Finance (Paul Martin)appointed Gordon

question 44

Multiple Choice

In 1994, the federal minister of finance (Paul Martin) appointed Gordon Thiessen as the new governor of the Bank of Canada , who proceeded to

• A)continue the tough and unpopular contractionary monetary policy of his predecessor.
• B)abandon the tough and unpopular contractionary monetary policy of his predecessor in favour of a low- interest- rate policy.
• C)increase the overnight lending rate in order to stabilize the Canadian- U.S. exchange rate.
• D)abandon the tough and unpopular contractionary monetary policy of his predecessor in favour of a policy designed to depreciate the Canadian dollar.
• E)continue the popular low overnight lending policy of his predecessor.

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Definitions:

Consumers

Individuals or entities that purchase goods or services for personal use and not for manufacturing or resale purposes.

Consumerism

The societal and economic order that encourages the acquisition of goods and services in ever-increasing amounts.

Government Agencies

Organizations established by a government to perform specific functions, such as regulation or enforcement of laws and policies.

Environment

The sum of all external conditions and influences affecting the life, development, and survival of organisms or a specific entity.