Which of the following statements is NOT true about the Canadian business cycle?
A)In the early 20th century,there were almost as many months of contraction as months of expansion.
B)From 1945 to 2001,the number of months of expansion outnumbered the months of contraction by more than five to one.
C)The worst economic contraction in the history of Canada was the Great Recession of 2008.
D)Strong economic recoveries were associated with World War I and World War II.

Question

Quizplus · Accepted Answer

The statement that the Great Recession of 2008 was the worst economic contraction in the history of Canada is not true. In fact, the worst contraction in Canadian history was the Great Depression of the 1930s, which lasted for over a decade and saw extremely high levels of unemployment and economic hardship.

Which of the Following Statements Is NOT True About the Canadian