Chapter 9 - Canada's Economy

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Economy Quizzes & Trivia

Canada is a country found on north of the world that goes from the US in the south to the arctic circle in the north. Take up the quiz to gauge your knowledge on Canada’s economy.


Questions and Answers
  • 1. 

    In what year did Canada enact free trade with the United States?

    • A.

      1979

    • B.

      1892

    • C.

      1988

    • D.

      1998

    Correct Answer
    C. 1988
    Explanation
    In 1988, Canada enacted free trade with the United States. This decision was a significant milestone in the economic relationship between the two countries. The free trade agreement aimed to remove trade barriers and promote economic integration, leading to increased trade and investment between Canada and the United States. This agreement had a profound impact on various industries and helped to strengthen the economic ties between the two nations.

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  • 2. 

    What does "NAFTA" mean?

    • A.

      North American Free Treasury Agreement

    • B.

      North American Forced Trade Agreement

    • C.

      National Armed Forces Treaty Agreement

    • D.

      North American Free Trade Agreement

    Correct Answer
    D. North American Free Trade Agreement
    Explanation
    NAFTA stands for North American Free Trade Agreement. It is a trade agreement between Canada, Mexico, and the United States that eliminates trade barriers and promotes economic cooperation among the three countries. The agreement aims to facilitate the movement of goods and services across borders, promote fair competition, and protect intellectual property rights. NAFTA has had a significant impact on the economies of the member countries, leading to increased trade and investment between them.

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  • 3. 

    What is the NAFTA agreement?

    • A.

      Free trade between Canada, the United States and Mexico

    • B.

      Free trade between Canada, the United States and Europe

    • C.

      Free trade between Canada, the United States and the United Kingdom

    • D.

      Free trade between Canada, the Europe and Mexico

    Correct Answer
    A. Free trade between Canada, the United States and Mexico
    Explanation
    The NAFTA agreement refers to the free trade agreement between Canada, the United States, and Mexico. This agreement aimed to eliminate trade barriers and promote economic cooperation between the three countries. It established a trilateral trade bloc, allowing for the free movement of goods and services across borders without tariffs or quotas. NAFTA has had a significant impact on the economies of these countries, increasing trade and investment flows and creating new opportunities for businesses and consumers.

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  • 4. 

    Canada's economy is among the top:

    • A.

      5

    • B.

      10

    • C.

      20

    • D.

      3

    Correct Answer
    B. 10
    Explanation
    Canada's economy is ranked among the top 10 in the world. This means that Canada's economy is one of the largest and most developed economies globally, considering factors such as GDP, trade, and overall economic performance. Being in the top 10 signifies Canada's economic strength and competitiveness on a global scale.

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  • 5. 

    What are Canada's main types of industries?

    • A.

      Service, manufacturing and natural resources

    • B.

      Service, fishing and natural resources

    • C.

      Tourism and natural resources

    • D.

      Farming and fishing

    Correct Answer
    A. Service, manufacturing and natural resources
    Explanation
    Canada's main types of industries include service, manufacturing, and natural resources. The service industry is a significant contributor to Canada's economy, encompassing sectors such as finance, healthcare, and hospitality. Manufacturing is another important industry, with Canada being known for its automobile, aerospace, and technology manufacturing sectors. Additionally, Canada is rich in natural resources, including oil, gas, minerals, and timber, making the natural resources industry a key player in the country's economy.

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  • 6. 

    In what area do Canadians mostly work nowadays?

    • A.

      Manufacturing industries

    • B.

      Natural resources industries

    • C.

      Farming industries

    • D.

      Service Industries

    Correct Answer
    D. Service Industries
    Explanation
    Canadians mostly work in service industries nowadays. This includes sectors such as retail, healthcare, finance, education, and hospitality. The shift towards service industries is a result of the decline in manufacturing and natural resource industries in Canada. Service industries have become a significant contributor to the Canadian economy, providing employment opportunities and driving economic growth.

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  • 7. 

    Which industries have played an important part in Canada's story and development?

    • A.

      Manufacturing industries

    • B.

      Service industries

    • C.

      Natural resources industries

    • D.

      Trading industries

    Correct Answer
    C. Natural resources industries
    Explanation
    Natural resources industries have played an important part in Canada's story and development. Canada is rich in natural resources such as oil, gas, minerals, and timber, which have contributed significantly to its economy. The extraction and export of these resources have created jobs, generated revenue, and attracted investments. The natural resources industries have also shaped Canada's landscape, influenced its environmental policies, and impacted its relationship with Indigenous communities. Overall, these industries have been a significant driver of Canada's economic growth and development.

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  • 8. 

    Who is Canada's largest international trading partner?

    • A.

      United States

    • B.

      Mexico

    • C.

      Europe

    • D.

      China

    Correct Answer
    A. United States
    Explanation
    Canada's largest international trading partner is the United States. This is because of the close geographical proximity and strong economic ties between the two countries. The United States is Canada's largest export market and also a major source of imports. The North American Free Trade Agreement (NAFTA), which has now been replaced by the United States-Mexico-Canada Agreement (USMCA), further promotes trade between Canada and the United States. The extensive trade relationship includes various industries such as automotive, energy, agriculture, and manufacturing.

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  • 9. 

    How much of Canadian exports are destined for the U.S.A.?

    • A.

      Two-third

    • B.

      Over three-quarters

    • C.

      Half

    • D.

      Over one-third

    Correct Answer
    B. Over three-quarters
    Explanation
    Over three-quarters of Canadian exports are destined for the U.S.A. This means that more than 75% of the goods and products that Canada exports are sent to the United States. This high percentage reflects the close economic relationship between the two countries, with Canada being a major trading partner for the U.S. The large volume of exports to the U.S. highlights the importance of this market for the Canadian economy.

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  • 10. 

    What is traditionally known as "the world's longest undefended border"?

    • A.

      Both Canadian Atlantic and Pacific coasts

    • B.

      Mexico-U.S.A border

    • C.

      Canada-U.S.A border

    • D.

      The Great Wall of China

    Correct Answer
    C. Canada-U.S.A border
    Explanation
    The Canada-U.S.A border is traditionally known as "the world's longest undefended border" because it is the longest international boundary in the world that does not have a military presence or a physical barrier separating the two countries. This is due to the peaceful and cooperative relationship between Canada and the United States, with a long history of trade, cultural exchange, and mutual respect.

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  • 11. 

    Which of the following statements is false about the Canada-U.S.A. relationship?

    • A.

      They have the biggest bilateral trading relationship in the world

    • B.

      Canada exports almost no goods to the U.S.A.

    • C.

      They have the world's longest undefended border

    • D.

      Millions of Canadians and Americans cross every year the Canada-U.S.A. border

    Correct Answer
    B. Canada exports almost no goods to the U.S.A.
    Explanation
    Canada exports a significant amount of goods to the U.S.A., making the statement false. The Canada-U.S.A. relationship is characterized by the largest bilateral trading relationship in the world, with millions of Canadians and Americans crossing the border each year. Additionally, they share the world's longest undefended border.

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  • 12. 

    Which of the following symbolizes the close ties and common interests of Canada and the U.S.A.?

    • A.

      The Statue of Liberty

    • B.

      The Stanley Cup

    • C.

      The Peace Arch

    • D.

      The Peace Tower

    Correct Answer
    C. The Peace Arch
    Explanation
    The Peace Arch symbolizes the close ties and common interests of Canada and the U.S.A. because it is a monument located on the border between the two countries. It was built to commemorate the peaceful resolution of border disputes and to celebrate the long-standing friendship between the two nations. The arch represents the shared values, cooperation, and mutual respect that exist between Canada and the U.S.A.

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  • 13. 

    Which following countries are part of the G8?

    • A.

      United States, Germany, the United Kingdom, Italy, France, Canada, China and Russia

    • B.

      United States, Germany, the United Kingdom, Japan, Canada, Russia, France and China

    • C.

      United States, the United Kingdom, Japan, Canada, Australia, Russia, France and China

    • D.

      United States, Germany, the United Kingdom, Italy, France, Japan, Canada and Russia

    Correct Answer
    D. United States, Germany, the United Kingdom, Italy, France, Japan, Canada and Russia
  • 14. 

    How much merchandise trade was involved within NAFTA in 2008?

    • A.

      About $100 billion

    • B.

      Over $1 trillion

    • C.

      About $500 billion

    • D.

      Over $100 trillion

    Correct Answer
    B. Over $1 trillion
    Explanation
    In 2008, the amount of merchandise trade involved within NAFTA was over $1 trillion. This indicates that the trade value between the member countries (United States, Canada, and Mexico) exceeded $1 trillion during that year. NAFTA was known for promoting economic integration and trade among these countries, leading to a significant volume of trade between them.

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  • 15. 

    What is the G8?

    • A.

      A group of 8 leading industrialized countries

    • B.

      The 8 countries involved in NAFTA

    • C.

      The group of 8 Fathers of Confederation

    • D.

      A group of 8 famous Canadian artists

    Correct Answer
    A. A group of 8 leading industrialized countries
    Explanation
    The G8 is a group of 8 leading industrialized countries. This group consists of some of the world's largest economies, including the United States, Canada, Japan, Germany, France, Italy, the United Kingdom, and Russia. The G8 countries come together to discuss and coordinate on various global issues, such as economic policies, security, and environmental concerns. They hold annual summits where leaders from these countries meet to discuss and make decisions on important international matters.

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  • 16. 

    Which industries make products to sell in Canada and around the world?

    • A.

      Service industries

    • B.

      Manufacturing industries

    • C.

      Natural resources industries

    • D.

      Trading Industries

    Correct Answer
    B. Manufacturing industries
    Explanation
    Manufacturing industries make products to sell in Canada and around the world. These industries involve the production of goods through various processes, such as assembling, processing, or fabricating raw materials into finished products. They play a crucial role in the economy by creating employment opportunities and contributing to the country's export revenue. Manufacturing industries encompass a wide range of sectors, including automotive, electronics, pharmaceuticals, textiles, and more, and their products are distributed globally to meet consumer demands.

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  • 17. 

    To which industries do transportation, education, health care, construction, banking, communications, retail services, tourism and government belong to?

    • A.

      Manufacturing industries

    • B.

      Natural resources industries

    • C.

      Service industries

    • D.

      Trading Industries

    Correct Answer
    C. Service industries
    Explanation
    The industries mentioned in the question, such as transportation, education, healthcare, construction, banking, communications, retail services, tourism, and government, all belong to the service industries. Service industries are those that primarily provide intangible products or services to customers, rather than producing physical goods. These industries focus on meeting the needs and demands of consumers through various services, such as transportation, education, healthcare, and tourism.

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  • 18. 

    To which industries do products such as paper, high technology equipment, aerospace technology, automobiles, machinery, food and clothing belong to?

    • A.

      Service industries

    • B.

      Manufacturing industries

    • C.

      Natural resources industries

    • D.

      Trading Industries

    Correct Answer
    B. Manufacturing industries
    Explanation
    The products mentioned in the question, such as paper, high technology equipment, aerospace technology, automobiles, machinery, food, and clothing, are all tangible goods that are produced through a process of manufacturing. Therefore, these products belong to the manufacturing industries, which involve the transformation of raw materials into finished goods through various production processes.

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  • 19. 

    To which industries do forestry, fishing, agriculture, mining and energy belong to?

    • A.

      Service industries

    • B.

      Manufacturing industries

    • C.

      Trading Industries

    • D.

      Natural resources industries

    Correct Answer
    D. Natural resources industries
    Explanation
    Forestry, fishing, agriculture, mining, and energy are all industries that involve the extraction or utilization of natural resources. These industries rely on the Earth's natural resources such as timber, fish, crops, minerals, and energy sources like oil, gas, or renewable energy. They are categorized as natural resources industries because they directly deal with the exploitation and utilization of these resources.

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  • Current Version
  • Mar 22, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Apr 22, 2014
    Quiz Created by
    Lisa
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