Canada's Economy Expanded By

question 206

Multiple Choice

Canada's economy expanded by...0.1 percent in the second quarter...further evidence that the economy has stalled...following a first quarter slip in gross domestic product. The second quarter figures fell well below forecasts of a 0.7 per cent growth in real GDP. Exports....fell for the fourth consecutive quarter. The accumulating gloom is increasingly discouraging business investment. Consumer spending remains strong and corporate profits were at their highest since 2004. "The sources of strength in the second quarter are clearly unsustainable," said Sal Gautieri, senior economist at BMO capital markets.
Canada Avoids Fall into Recession, www.FT.com, by Christopher Mason, August 30, 2008
-According to the article, the best description of Canada's position in the business cycle is

• A) at a peak.
• B) at a trough.
• C) in an expansion.
• D) in a recession.

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