Canada Followed the U

question 235

Multiple Choice

Canada followed the U.S.into recession in 2008, but not in 2001.One important reason why Canada did not follow the U.S.into recession in 2001 is

• A)prices of natural resources and raw materials did not fall in 2001, but did in 2008.
• B)the majority of Canada's trade partners were experiencing rapid inflation in 2008.
• C)Canadian banks cut lending more in 2001 than they did in 2008.
• D)the U.S.banned Canadian imports in 2008, but not in 2001.
• E)Canada suffered a banking crisis in 2008, but not in 2001.

---

Definitions:

Manufacture

The process of producing goods on a large scale using labor, machines, tools, and chemical or biological processing.

Demand Curves

A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.

Supply Curves

Graphical representations showing the relationship between the price of a good and the quantity of the good that suppliers are willing to offer for sale.

Market Equilibrium

A condition in which the supply of a good matches demand, leaving neither surplus nor shortage in the market.