At the end of the 1970s, the inflation rate in Canada had exceeded 10%.
At the end of the 1970s, the inflation rate in Canada had exceeded 10%. This high inflation was due mainly to
a)a substantial negative supply shock that was partly validated by monetary policy
b) external pressures on the Canadian dollar
c) Steadily decreasing factor prices
d) the extremely high wage increases being won by strong labor unions
e) steadily decreasing factor prices and contractionary monetary policy