How Is Responsibility for Monetary Policy Set Forth in Canada

question 56

Multiple Choice

How is responsibility for monetary policy set forth in Canada?

• A)The Canadian Government administers monetary policy through the office of the Minister of Finance.
• B)The Bank of Canada administers monetary policy as directed by the Minister of Finance.
• C)The Bank of Canada Act places responsibility for the conduct of monetary policy on the Bank's Governing Council.
• D)The Prime Minister bears ultimate responsibility for monetary policy.
• E)Both B and D

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Definitions:

Credit Analysis

The process of evaluating an applicant's loan request or a corporation's debt issue in order to determine the likelihood of the borrower defaulting on their financial obligations.

Collection Policy

A collection policy outlines the procedures and guidelines a company follows to manage and recover overdue accounts receivable from customers.

Terms of Sale

Conditions agreed upon by a buyer and seller regarding the delivery, payment, and other aspects of a purchase.

Consumer Credit

A type of financial arrangement that allows individuals to borrow money for purchasing goods and services, typically involving interest fees.