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Exchange Rates

The dollar became the official monetary unit of the Province of Canada on 1 January 1858 and the official currency of Canada after Confederation.

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Economic History of Western Canada

Manitoba, Saskatchewan, Alberta and British Columbia constitute Western Canada, a region that accounts for 35 per cent of the Canada’s gross domestic product (GDP). The economic history of the region begins with the hunting, farming and trading societies of the Indigenous peoples. Following the arrival of Europeans in the 18th century, the economy has undergone a series of seismic shifts, marked by the transcontinental fur trade, then rapid urbanization, industrialization and technological change.

Article

Collectivism

As the social evils of industrialization and urbanization unfolded in the later 19th century, many Canadians saw the basic problem as an excess of individualism.

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Consumer Price Index

Consumer Price Index, a monthly measure of changes in the retail prices of goods and services purchased by Canadians in communities of 30 000 or more across the country.

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Economy

 Most modern economists think of ECONOMICS as the study of choice, so that, strictly, an "economy" consists of human beings - in this case Canadians - making choices, which obviously includes just about all of Canadian experience.

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Economic Nationalism

Economic nationalism, in Canada, is a movement aimed at achieving greater control by Canadians of their own economy. In recent years it arose in response to the high degree of foreign (especially American) control of the Canadian economy.

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Unemployment in Canada

Unemployment is the unused supply of labour in the labour force. The unemployment rate measures unemployment and is expressed as a percentage of the total labour force, which is the total number of people who are 15 years of age and over who are either employed or unemployed. The unemployment rate is calculated by dividing the number of unemployed people by the number of people in the labour force. The unemployment rate is considered an economic indicator, an economic statistic that is used to interpret or understand the health of an economy. There are several types of unemployment and their causes are often debated by economists. The unemployed are not a fixed collection of individuals but an ever-changing group, most of whom might be unemployed only briefly.

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High Technology

Technology, along with labour, capital, resources and management, is one of the essential components of industrial production. Most classes of industry require some technological input, but the amount varies widely among industrial sectors.

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Navigation Acts

The Navigation Acts were a complex set of British laws dating from 1651 and 1660, regulating British and later imperial shipping and trade to foster economic and naval power.

Macleans

Martin Reports a Surplus

Finance Minister Paul Martin’s mission was clear in delivering his annual fall economic update. Douse hopes that much new spending is in the works. Dismiss the argument that Ottawa can afford a big reduction in Employment Insurance premiums.

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Commodities in Canada

In commerce, commodities are interchangeable goods or services. Many natural resources in Canada are viewed as commodities. They are a major source of the country’s wealth. Examples of commodities include a barrel of crude oil, an ounce of gold, or a contract to clear snow during the winter. Commodity products often supply the production of other goods or services. Many are widely traded in futures exchanges (see Commodity Trading).

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Capitalism in Canada

Capitalism is an economic system in which private owners control a country’s trade and business sector for their personal profit. It contrasts with communism, in which property effectively belongs to the state (see also Marxism). Canada has a “mixed” economy, positioned between these extremes. The three levels of government decide how to allocate much of the country’s wealth through taxing and spending.

Editorial

The Great Crash of 1929 in Canada

In late October of 1929, terror seized the stock exchanges of North America. Capitalism’s speculative party, with its galloping share prices and its celebrity millionaires, came to an abrupt stop. The Great Crash, it was called, and it was followed by the Great Depression.

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Assets in Canada

An asset is a useful and desirable thing or quality. The word is most often used in business, financial or accounting contexts. Canada has some of the world’s most impressive physical and natural resources. These resources may be viewed as “national assets.” The concept is also useful in personal finance, as housing is most Canadian families’ largest asset.

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Employment Insurance

Employment insurance (renamed from Unemployment Insurance in 1996) refers to government benefit payments during a period of UNEMPLOYMENT. In Canada, the employment insurance system is financed by premiums paid by employers and employees and by federal government contributions.