https://www.cbc.ca/news/business/jobs-august-1.5756642

https://www.bankofcanada.ca/2020/09/fad-press-release-2020-09-09/

1.Summarize the changes in the unemployment rate in Canada between February 2020 and February 2021.

2.What effect has the recent reopening of schools has on employment in Canada?

3.Define the Bank of Canada's overnight rate. What is the current overnight rate? Why has the Bank of Canada set the rate so low?

4.Define "quantitative easing" and explain how it works.

5.Why has the Bank of Canada adopted this quantitative easing program?

6.The second article contains the phrase, "real GDP fell by 11.5 percent (39 percent annualized) in the second quarter..." Explain what this means. How does this change in GDP compare to changes at the same time a year ago?

7.The Bank of Canada says that economic activity has been supported by government programs to replace incomes and subsidize wages. Do some research to identify two of these programs. For each program, answer these questions: Who benefits from the program? How much has the program cost the government so far (estimate)? What is the intended effect on the Canadian economy of the program?

8.The Bank of Canada press release includes the sentence, "Monetary policy is working to support household spending and business investment by making borrowing more affordable." Explain.

9.Why does the Bank of Canada include the statement that business confidence and investment remain subdued? Explain what this means, and then explain why this is relevant to the Canadian economy.

10.What does it mean that CPI inflation is close to zero? What is "economic slack"?

11. In the final paragraph of the press release, the Bank of Canada gives us some information about its future policies. What should we expect for interest rates in the future? What is the Bank of Canada planning to do in the bond market? What is the Bank's goal for inflation?