The 2007-08 recession in Canada
A)was worsened by fiscal policy actions.
B)was the most severe recession in the 1961-2018 period.
C)was caused by tight monetary policy.
D)was the result of the failure of the Canadian banking system.
E)originated in the United States.

Question

Quizplus · Accepted Answer

The 2007-08 recession in Canada originated in the United States with the collapse of the housing market and the global financial crisis that followed. The recession was primarily caused by external factors beyond Canada's control, rather than domestic economic policy.

The 2007-08 Recession in Canada