Canada's Economy

When Canada’s government puts a limit on how much American wheat and barley it will import this year, it is imposing which type of trade barrier?

• Embargo

• Tariff

• Quota

• Opportunity Cost

Canada charges special taxes on U.S. cheese and butter brought across the U.S.-Canadian border. What type of trade barrier is this?

• Embargo

• Tariff

• Quota

• Opportunity Cost

The US is Canada's #1 trading Partner. This is because...

• Canada is a very friendly country

• Its proximity to the US allows for easier movement of goods and services

• They both specialize in industries that support international trade

• All the Waffle Houses in America import their Maple Syrup from Canada

Canada is a member of several international organizations. Which one has had the GREATEST effect Canada's economic Growth?

• the United Nations (UN)

• the North Atlantic Treaty Organization (NATO)

• the International Monetary Fund (IMF)

• the North American Free Trade Agreement

  (NAFTA)

Canada's economy could be classified as what type of economy? It is the type of economy where there is freedom for entrepreneurship, with some government involvement.

• mixed-command

• mixed-market

• pure market

• pure command

Which is a cause for the extraction of natural resources in the Canadian Shield?

• chemical runoff

• economic value of minerals

• less oxygen

• flooding of land

In order for Canada to be able to trade with other countries, what must they do to strengthen their position in the global market?

• specialize in producing a good

• There is nothing they can do.

• impose tariffs

What is the primary sector that contributes to Canada's GDP?

• A) Agriculture

• B) Manufacturing

• C) Services

• D) Mining

Which Canadian province is the largest producer of oil and gas?

• A) Ontario

• B) Alberta

• C) Quebec

• D) British Columbia

What is the currency used in Canada?

• A) Canadian Dollar

• B) US Dollar

• C) Euro

• D) British Pound