What is the role of the Bank of Canada, created in 1934?
Answer: It is Canada's central bank, managing the money supply
The Bank of Canada, created in 1934, is the central bank that manages the money supply and brings stability to the financial system.
All answer choices
- It is Canada's central bank, managing the money supply (correct answer)
- It approves all mortgages
- It sets provincial taxes
- It issues passports
This practice question is based on Discover Canada, the official study guide for the Canadian citizenship test. Brush up on this topic in our Economy & Industry study guide.
More Economy & Industry questions
- Which region is known as the industrial and manufacturing heartland of Canada?
- Which two provinces produce more than three-quarters of all Canadian manufactured goods?
- Why is trade with other countries important to Canada?
- Which of the following is a list of Canada's natural resource industries?
- Which province is the largest producer of oil and gas in Canada?
- In what industry do most Canadians work?
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