Question

Inflationary pressures were effectively reduced, yet, employment proved far more difficult to remedy. This relatively new phenomenon is described as a___.

A) Unemployment recovery

B) Unemployment reduction

C) Jobless recovery

D) None of above

Canadian income tax system is a ___ system, one designed to reduce inequalities in income and to help finance social spending.

A) Progressive tax

B) Welfare state

C) NDP

D) Both a& b

Answer 1

C) Jobless recovery
This new phenomenon is known as jobless recovery. According to this phenomenon, an economy experiences growth but without any reduction the unemployment rate, so it means inflationary pressures are reduced but employment is still difficult to remedy.

D) Both a&b
Canadian income tax system is progressive as more tax is payed by higher income groups than lower income groups and it is also welfare state which helps government to finance various social expenditures.