Question 28 (0.5 points) Canada was, like many economies, impacted by the global financial crisis that began with the collapse of U.S. housing market. The Bank of Canada in an attempt to maintain the level of economic activity in Canada, the Bank between the fall of 2007 and the end of 2008 a) purchased "toxic" assets from Canadian commercial banks and implemented a large fiscal stimulus program. O b) reduced its target for the overnight rate by over 5 percentage points and purchased "toxic" assets from Canadian commercial banks. O c) reduced its target for the overnight rate by over 3.5 percentage points and made short-term loans to financial institutions more accessible. Od) maintained its target for the overnight rate and made short-term loans to financial institutions more accessible. O e) implemented a large fiscal stimulus program to counteract the sharp rise in interest rates that had occurred. Previous Page Next Page Page 28 of 79