Economic event Change in an Likely effect on the injection or level of national change in a income - leakage in the expansion or circular flow contraction (select (select your your answer and answer and explain why) explain why) 1. A survey shows that consumers expect to see a sizeable rise in unemployment over the next twelve months 2. The government decides to increase spending on Canada's national rail network 3. Fear of terrorist attacks lead to a reduction in stock prices and a decline in the values of the overall stock market 4. The federal government reduces the amount of an import tariff (or tax) that had been placed previously on imported clothing and footwear. 5. General Motors and Chrysler decide to close three car manufacturing plants in Ontario 6. The Bank of Canada decides to reduce interest rates by one percent 7. The government of Alberta hires a large United States company to help the province to develop northern oil reserves 8. The government of Canada increases the Goods and Services Tax (GST) by two percent. 9. The price of a barrel of oil on the world market increases by $12 10. New housing starts increase by 11% in one year