In Canada,three important recessions occurred between
A) 1944-1946, 1951-1952, and 1962-1964.
B) 1978-1979, 1984-1985, and 1988-1989.
C) 1974-1975, 1981-1982, and 1990-1992.
D) 1981-1982, 1996-1997, and 2003-2004.
E) 1987-1988, 1994-1995, and 2002-2003.

Question

Quizplus · Accepted Answer

The three recessions that occurred between 1974-1975, 1981-1982, and 1990-1992 are considered to be the most important in Canada's recent history. The first was due to the oil crisis, the second was a result of a global recession and high interest rates, and the third was caused by a collapse in commodity prices and high levels of household debt. These recessions had significant impacts on the Canadian economy, including high levels of unemployment and low GDP growth, and led to major policy changes and reforms.

In Canada,three Important Recessions Occurred Between