Economic Concerns in Canada Quiz

<p>Pharmaceuticals. (D)</p> Signup and view all the answers

<p>USA's economy can significantly impact Canada. (A)</p> Signup and view all the answers

<p>It tends to decrease the value of the currency. (A)</p> Signup and view all the answers

<p>It causes it to appreciate. (B)</p> Signup and view all the answers

<p>Exporters (D)</p> Signup and view all the answers

<p>Legal Sector (A)</p> Signup and view all the answers

<p>A higher currency value enhances the ability to import. (C)</p> Signup and view all the answers

<p>Restrictions on Canadian workers moving to the USA. (C)</p> Signup and view all the answers

<p>To ease the cost for consumers. (B)</p> Signup and view all the answers

<p>Access to lower labor costs. (C)</p> Signup and view all the answers

<p>Technological advancements. (C)</p> Signup and view all the answers

<p>Creation of a strong economy. (A)</p> Signup and view all the answers

<p>Access to a wide array of goods. (B)</p> Signup and view all the answers

<p>Countries are trying to balance protectionism and globalization strategies for stability. (B)</p> Signup and view all the answers

<p>Additional tax burden for US streaming services in Canada. (A)</p> Signup and view all the answers

<p>A ban on a specific product or service. (D)</p> Signup and view all the answers

<p>Discourage a foreign government through trade penalties. (A)</p> Signup and view all the answers

<p>They increase the overall cost of international trade for individuals and businesses. (A)</p> Signup and view all the answers

<p>A government regulation related to product safety. (B)</p> Signup and view all the answers

<p>By restricting the amount of foreign dairy, eggs, and poultry allowed in the country. (D)</p> Signup and view all the answers

<p>Increased consumer prices for dairy, eggs, and poultry. (C)</p> Signup and view all the answers

<p>Trade quota (C)</p> Signup and view all the answers

<p>To encourage or discourage specific behavior of a foreign government. (C)</p> Signup and view all the answers

<p>Changing demographics with older populations buying less tangible goods. (C)</p> Signup and view all the answers

<p>A shift towards more trade in services, software, and the digital economy. (A)</p> Signup and view all the answers

<p>To mitigate issues such as costs, climate change, and international conflicts. (A)</p> Signup and view all the answers

<p>Its shift towards a more local based economy and exporting battery components. (D)</p> Signup and view all the answers

<p>It helped keep prices down and decreased inflation. (B)</p> Signup and view all the answers

<p>To facilitate ease of cross-border trade without tariffs. (B)</p> Signup and view all the answers

<p>The presidency of Donald Trump. (A)</p> Signup and view all the answers

<p>It might undermine China's reliance on exports and current business practices. (D)</p> Signup and view all the answers

<p>The carbon-intensive nature of concrete used in its construction (B)</p> Signup and view all the answers

<p>The Ogdensburg-Prescott International Bridge (A)</p> Signup and view all the answers

<p>To transport goods and facilitate trade between the USA and Canada (D)</p> Signup and view all the answers

<p>Diversifying manufacturing locations to avoid tariffs (C)</p> Signup and view all the answers

<p>Industrial goods (A)</p> Signup and view all the answers

<p>95 years old (D)</p> Signup and view all the answers

<p>A global shipping company with diverse transportation channels (B)</p> Signup and view all the answers

<p>Six lanes (A)</p> Signup and view all the answers

When a country sells goods or services to other countries.

A good or service that is sold to another country.

The largest market for Canadian exports, buying many of our goods and services.

A major contributor to Canada's economy, found in provinces like Alberta and Saskatchewan.

A type of agricultural product, like lentils and peas, that Canada exports.

The value of a country's currency is influenced by factors such as inflation rates, government deficits, and economic conditions.

A depreciating dollar means the value of the dollar is decreasing compared to other currencies. This can be beneficial for exporters as their products become cheaper in foreign markets.

An appreciating dollar means the value of the dollar is increasing compared to other currencies. This can be beneficial for importers as they can buy goods from other countries more cheaply.

The Temporary Foreign Worker (TFW) program allows Canadian companies to hire workers from other countries on a temporary basis. This program assists in addressing labor shortages in various sectors.

The Temporary Foreign Worker program contributes to the growth of Canada's import and export capacities by providing a skilled workforce in industries such as agriculture, quick service restaurants, customer service, construction, and technology.

The costs associated with starting and running a business in a specific country.

The financial gains a business achieves after covering all expenses.

Individuals who own shares of a company and benefit from its success.

The potential loss of employment opportunities due to economic factors.

The creation of new employment opportunities, often driven by economic growth.

Actions by businesses that prioritize profit over ethical considerations and can harm individuals or the environment.

The impact of business activities on the natural world, including pollution, resource depletion, and climate change.

A policy where countries limit trade with other nations to protect domestic industries and jobs.

A tax imposed on imported or exported goods, making them more expensive for consumers.

Government regulations or restrictions that hinder international trade, beyond tariffs.

A complete ban on trade with a specific country or product, often due to political or health concerns.

A restriction on the amount of a specific good that can be imported or exported.

A system in Canada managing the supply of dairy, eggs, and poultry, limiting foreign competition.

A government action to encourage or discourage a foreign government's behavior by restricting trade.

The cost of converting one currency into another, which can add to the price of imported goods.

A potential benefit of supply management, allowing Canadian farmers to compete more effectively and protect their jobs.

A situation where a country heavily relies on exports for its economic success, making it vulnerable to changes in global trade.

An agreement between countries that removes or reduces trade barriers, making it easier for goods and services to cross borders.

The process of reducing the distance between suppliers and buyers, often by sourcing goods and services closer to the consumer.

Changes in the age and size of a population, which can impact consumer spending and demand for goods and services.

The shift from trading physical goods to exchanging services and digital products, driven by technological advancements.

A country's policy of focusing on domestic production and consumption rather than exporting goods.

The ability of a country to produce goods and services at a lower cost than others, often due to factors like cheap labor or abundant resources.

A bridge connecting Windsor, Ontario, Canada and Detroit, Michigan, USA, used for transporting goods and enhancing economic growth.

Goods that are used to make other goods, such as raw materials or components.

A strategy used by companies to avoid tariffs by moving production from China to alternative countries.

A shipping company known for transporting most of the world's tangible goods.

A bridge connecting Ogdensburg, New York, USA and Johnstown, Ontario, Canada, spanning a length of 2,414 meters.

The process of making something new from raw materials or components.