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Q: 1. The biggest economic problem at present is a) decline in output b) high inflation c) bear market in stocks d) high unemployment Ans: b) high inflation Q: 2. The effect of last two recession on the US unemployment was, compared to unemployment in Canada a) greater in both the Pandemic and the Great recessions b) greater in the Pandemic recession but not in the Great recession c) smaller in the Pandemic recession but greater in the Great recession d) smal...

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Q: What is the reason for the larger drop in employment and labour force in the current recession? Ans: Government provided relief for the unemployed, resulting in less people looking for jobs Q: What triggered the Great Recession and what was the reason for it? Ans: Collapse of Lehman brothers, gov didn't bail them out due to moral hazard Q: Who is Ben Bernanke? Ans: Chairman of the Federal Reserve Q: Define Quantitative easing Ans: Government purchase o...

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Question: 1. The biggest economic problem at present is a) decline in output b) high inflation c) bear market in stocks d) high unemployment Ans: b) high inflation Question: 2. The effect of last two recession on the US unemployment was, compared to unemployment in Canada a) greater in both the Pandemic and the Great recessions b) greater in the Pandemic recession but not in the Great recession c) smaller in the Pandemic recession but greater in the Great recessi...

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