After you have studied Economics in the News on pp. 478 – 479 , answer the following questions.
a. Which economy—the Canadian or the U.S.—had the longer and deeper recession in 2008–2009?
b. Which economy—the Canadian or the U.S.—had the lower estimated growth rate of potential GDP?
c. Why does the news article describe the U.S. economy as a “work in progress”?
d. What features of the Canadian economy provide some immunity from U.S. economic ills?