How Did Canada Try to Restore Economic Balance During a Time

question 30

Multiple Choice

How did Canada try to restore economic balance during a time of debts and deficits?

• A) by raising taxes to offset the deficits
• B) by shifting to privatization in the public sector
• C) by management cutting the costs of production
• D) by completely eliminating some services

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Definitions:

Sole Proprietorship

An unincorporated firm owned and operated by one person.

Money Income

It refers to the total amount of monetary earnings received by an individual or household, including wages, salaries, and other forms of financial income.

Revenues

The sum of money a business acquires from selling goods or offering services over a certain time frame.

Households

Economic units that represent all individuals living in a single dwelling, sharing income and expenses; primary consumers in the economy.