The Canadian economy recovered from the 2008 recession primarily because low interest rates caused a boom in the housing market.

Question

Quizplus · Accepted Answer

Low interest rates, among other factors, did contribute to the recovery of the Canadian economy after the 2008 recession, but it is not the sole reason. The stimulus package implemented by the government, increased demand for commodities, and growth in the technology and service sectors also played significant roles in the recovery. However, the housing market did experience a boom due to the low interest rates, which contributed to the overall economic growth.

The Canadian Economy Recovered from the 2008 Recession Primarily Because