Answer the following questions Use the link provided: https://www.canada.ca/content/dam/fin/publications/efs-peb/homepage/EFS2020-eng.pdf

Questions Provide a summary of the impact of COVID on the economy using the Fiscal Snapshot provided. (6 marks) Compare and comment on the following economic indicators, using a table, between December 2019 and June/July 2020. Use only the StatsCan or the Bank of Canada website for this information. (4 marks) Economic Indicator GDP growth rate December 2019 June /July 2020 (April 2019 to April 2020) Unemployment rate (June 2020) Inflation rate (June 2019 to June 2020) Interest rates (July 2020) 3. This snapshot estimates the impact of the COVID-19 pandemic on federal finances. The impact is massive, and larger than most expected. The deficit is pegged at $343 billion for FY20/21, which will weigh in at almost 16% of GDP the deepest shortfall on record going back to the early-1960s. That will cause debt to jump above $1 trillion, and the net debt-to-GDP ratio to jump 18 points, to 49.1%, the highest since the late-1990s. Some economists feel this is acceptable, others believe it will cause financial problems. What is your opinion of the impact on Canada and its debt over the next few years? Explain. (4 marks) 4. Do you feel that certain sectors of our economy were harder hit than others? Were there some that were relatively unscathed? Explain, providing references. (6 marks) 5. Overall, do you feel the efforts made by the federal government were effective? Explain why. What are your suggestions going forward? (6 marks)