Which of the Following Events Would Most Likely Be Considered

question 69

Multiple Choice

Which of the following events would most likely be considered a macroeconomic shock?

• A) A drought destroys 25% of the strawberry crop in British Columbia.
• B) Mismanagement results in a federal takeover of the largest credit union in Canada.
• C) OPEC unexpectedly announces a 40% reduction in oil production.
• D) The Bank of Canada decides to increase the overnight rate by 0.25% for the third time in 12 months.

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Definitions:

Categorical

Pertaining to data that can be divided into specific groups or categories that are qualitatively distinct.

Tossing

The act of throwing something lightly or casually, often used in the context of flipping a coin or similar objects.

Coin

A piece of hard material, typically metal, used as money, bearing an official stamp or design.

Outcome

The result or consequence of an experiment, test, or study.