Question 263
In response to the economic instability of the Great Depression, what major financial institution was created in 1934 to manage Canada's money supply and stabilize the financial system?
Show the answer and explanation
Correct answer: B) The Bank of Canada
Explanation
During the Great Depression, there was a growing demand for government intervention in the economy. The Bank of Canada, a central bank, was created in 1934 to manage the money supply and bring stability to the financial system.
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