The Reason Inflation Spiralled in Canada in the 1970s Can

question 77

Multiple Choice

The reason inflation spiralled in Canada in the 1970s can be attributed to ________.

• A) the central bank not following the Taylor Principle
• B) the OPEC oil embargo
• C) changing policies at the federal government level
• D) an aggressive central bank policy buying bonds

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Definitions:

Before-Tax Total Income

The total income earned by an individual or a business before any taxes are deducted.

Poorest 20 Percent

The segment of a population that ranks at the bottom fifth in terms of income.

Income Mobility

The ability of individuals or families to move up or down the economic ladder within a society over time.

Economic Status

An individual's or area's financial condition and stability, often measured by income, employment, and wealth indicators.