The Main Reason for Canada's Uneven Economic Development Is

question 98

Multiple Choice

The main reason for Canada's uneven economic development is:

• A)uneven resources,climate and geography.
• B)the proximity of the U.S.
• C)lack of entrepreneurial skills by Canadians.
• D)federal government policies favouring Ontario and Quebec.

Understand the basic principles of supply and demand in a market economy.

Recognize the characteristics of perfectly competitive markets.

Identify the role of price takers and price setters in different market structures.

Define a market and understand the various types of markets.

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Definitions:

Fiscal Policy

Government policy regarding taxation and spending, aimed at influencing the economy.

Rational Expectations

The hypothesis that individuals form forecasts about the future based on all available information, including historical data and predictions about future policy actions.

Government Policy Makers

Individuals or groups within the government responsible for developing, implementing, and amending policies and regulations.

Aggregate Demand Curve

A graphical representation showing the relationship between the overall price level in the economy and the total demand for goods and services at that level.