Question: 1. Why is the current inflation in Canada much higher than this target of 2% (5 marks) 2. Use the Keynesian and AS/AD models to

1. Why is the current inflation in Canada much higher than this target of 2% (5 marks) 2. Use the Keynesian and AS/AD models to explain in detail how the Bank of Canada is currently trying to reduce inflation to 2%. Use graphs to illustrate (15 marks) 3. Why might the Bank of Canadas efforts to reduce inflation cause a recession (5 marks)

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