GK
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Canada was not as seriously affected as the United States by the 2008 global recession largely because
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the housing market declined but employment rose.
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Canadian banks were more conservative in extending credit.
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the fishing industry provided steady employment for many Canadians.
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few Canadians spent more than they earned.
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Explanation:
Detailed explanation-1: -The value of Canada’s oil and other exports dropped sharply, housing activity in the country saw steep declines, and 400, 000 Canadians lost their jobs over the course of a year, according to Statistics Canada data.
Detailed explanation-2: -Other severely affected countries are Ireland, Russia, Mexico, Hungary, the Baltic states. By contrast, China, Japan, Brazil, India, Iran, Peru and Australia are “among the least affected."
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