By study chapter
Canada’s Economy
A trading nation: the three main types of industry, and the relationship with the United States.
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All 19 questions, with answers
Open a question to see its answer, why, and the official page it comes from.
1.
What are the three main types of industry in Canada’s economy?
- AAgriculture, tourism and banking
- BService industries, manufacturing industries and natural resources industriesAnswer
- CMining, fishing and forestry
- DPublic, private and non-profit
Why: Mining, fishing and forestry are part of the natural resources industries, not separate categories.
2.
What share of working Canadians have jobs in service industries?
- AMore than 25%
- BMore than 50%
- CMore than 75%Answer
- DMore than 90%
Why: Service industries provide jobs in transportation, education, health care, construction, banking, communications, retail, tourism and government.
3.
Who is Canada’s largest trading partner?
- AThe United StatesAnswer
- BThe United Kingdom
- CJapan
- DMexico
Why: Canada and the United States are each other’s largest trading partner, and together have the biggest bilateral trading relationship in the world.
4.
How much of Canada’s exports go to the United States?
- AAbout one-quarter
- BAbout one-half
- COver three-quartersAnswer
- DAlmost none
Why: Millions of Canadians and Americans cross what is traditionally called “the world’s longest undefended border” every year.
5.
Canada has always been a trading nation, and commerce remains the engine of its economic growth.
- ATrueAnswer
- BFalse
Why: Canadians could not maintain their standard of living without trade with other nations.
6.
What kinds of products do Canada’s manufacturing industries make?
- AOnly raw materials for export
- BPaper, high technology equipment, aerospace technology, automobiles, machinery, food and clothingAnswer
- CMainly military equipment
- DOnly goods sold inside Canada
Why: Manufacturing industries make products to sell in Canada and around the world. Canada’s largest international trading partner is the United States.
7.
Which industries does the guide count as natural resources industries?
- ABanking, insurance and retail
- BAerospace, automobiles and machinery
- CForestry, fishing, agriculture, mining and energyAnswer
- DTourism, transportation and communications
Why: These industries have played an important part in the country’s development, and a large percentage of Canada’s exports are natural resource commodities. The other options are manufacturing or service industries.
8.
In which areas do service industries provide jobs?
- ATransportation, education, health care, banking, communications, retail, tourism and governmentAnswer
- BForestry, fishing and mining
- CPaper, machinery and automobiles
- DOil and gas extraction only
Why: Service industries provide thousands of different jobs, and more than 75% of working Canadians have one.
9.
In 1988, Canada enacted free trade with which country?
- AMexico
- BThe United Kingdom
- CJapan
- DThe United StatesAnswer
Why: Mexico became a partner in 1994, in a broader North American agreement.
10.
Where does Canada rank among the world’s economies?
- AIt has the largest economy in the world
- BIt has one of the ten largest economies in the worldAnswer
- CIt is among the fifty largest, but no higher
- DThe guide does not say
Why: Trade is what sustains it: Canadians could not maintain their standard of living without trading with other nations.
11.
Canada and the United States have the biggest bilateral trading relationship in the world.
- ATrueAnswer
- BFalse
Why: Each is the other’s largest trading partner, and over three-quarters of Canadian exports go to the United States.
12.
What is traditionally known as “the world’s longest undefended border”?
- AThe border between Canada and the United StatesAnswer
- BCanada’s Arctic coastline
- CThe boundary between Ontario and Quebec
- DThe border between Canada and Greenland
Why: Millions of Canadians and Americans cross it every year, in safety.
13.
What does the Peace Arch at Blaine, Washington symbolize?
- AThe spot where the Canadian Pacific Railway was completed
- BThe Canadians who died in the First World War
- CThe close ties and common interests of Canada and the United StatesAnswer
- DThe signing of the Constitution Act, 1982
Why: It is inscribed with the words “children of a common mother” and “brethren dwelling together in unity”. The memorial to those who died in the First World War is the Peace Tower in Ottawa.
14.
What was discovered in Alberta in 1947 that began Canada’s modern energy industry?
- AOilAnswer
- BUranium
- CPotash
- DDiamonds
Why: Alberta is now the largest producer of oil and gas. The world’s richest deposits of uranium and potash are in Saskatchewan, and the diamond mines are in the North.
15.
In what year did the federal government introduce unemployment insurance, now called employment insurance?
- A1927
- B1940Answer
- C1965
- D1982
Why: Old Age Security was devised as early as 1927, and the Canada and Quebec Pension Plans date from 1965.
16.
The General Agreement on Tariffs and Trade (GATT) is now known as what?
- AThe Commonwealth
- BLa Francophonie
- CThe World Trade Organization (WTO)Answer
- DThe North Atlantic Treaty Organization (NATO)
Why: Treaties like it opened up the restrictive trading policies of the Depression era. NATO is a military alliance, and La Francophonie is an association of French-speaking countries.
17.
Which of these does Canada export billions of dollars’ worth of every year?
- AEnergy products, machinery, agricultural, fishing and forestry productsAnswer
- BNothing — Canada imports far more than it exports
- COnly unprocessed minerals
- DOnly services, not goods
Why: Integrated Canada–U.S. supply chains compete with the rest of the world.
18.
For centuries, what was Canada’s economy based mainly on?
- AManufacturing automobiles and aerospace technology
- BBanking and tourism
- CFarming and exporting natural resources such as fur, fish and timberAnswer
Why: These goods were transported by roads, lakes, rivers and canals. The first companies in Canada were formed during the French and British regimes and competed for the fur trade.
19.
In what year did the Montreal Stock Exchange open?
- A1670
- B1832Answer
- C1934
Why: The first financial institutions opened in the late 18th and early 19th centuries. 1670 is the year the Hudson’s Bay Company was granted its trading rights, and 1934 the year the Bank of Canada was created.