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2020 has been a very unusual year with the worldwide pandemic. Economies around the world have been greatly affected by it. What has been the impact on the Canadian economy? The objective of this assignment is to find an answer this question.
You will research and find answers to the following questions.
1. How has the pandemic affected the Canadian GDP, Unemployment, Inflation and Government deficit? Compare the February numbers with the latest numbers for August.
2. In your opinion, is the economy recovering as expected? Are you optimistic about the future months? Have programs like CERB, wage subsidies helped Canada recover faster than other economies? Explain the reason for your answers.
3. Which sectors have been relatively less affected and which ones were hit the hardest? Why?
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Illustrate what was the effect of these rate reductions on revenue flow into the federal treasury. What impact upon our economy from these individual tax rate reductions.
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