The Completion of the Canadian Pacific Railway in 1885 and the North

question 39

True/False

The completion of the Canadian Pacific Railway in 1885 and the North American Free Trade Agreement (NAFTA) in 1994 both benefitted consumers and businesses in Canada on the whole.

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Definitions:

Desired Expenditures

The amount of spending households, firms, and the government wish to make, usually influenced by economic conditions and policies.

Inflation

A persistent upsurge in the average cost of goods and services across an economy over time.

Unemployment

The situation when people who are willing to work at current wage rates cannot find jobs.

Aggregate Demand

Aggregate demand represents the total quantity of all goods and services demanded by the economy at various price levels, in a given period of time.