When the Bank of Canada Act Was Passed in 1934

question 187

Multiple Choice

When the Bank of Canada Act was passed in 1934, it was stated that the main responsibility is to conduct monetary policy to

• A)prevent bank panics.
• B)promote price stability.
• C)promote the best interests of economic life of Canada.
• D)keep employment high.
• E)promote good governance in Canada.

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Definitions:

Speculative Opportunities

Investment options that carry a high risk of loss but also offer the potential for high rewards.

Accounts Receivable

The outstanding invoices a company has or the money the customers owe to the company for goods or services delivered.

Pledging

The act of using an asset as collateral to secure a loan, without transferring ownership of the asset.

Administrative Reason

A justification based on policy, procedure, or bureaucracy within an organization.