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I’m working on a micro economics question and need an explanation to help me learn.please answer question 1 only Question oneThe Bank of Canada, among its various economic roles, is responsible for the conduction of monetary policy in Canada. Based on economic theory, our class discussions, and the weekly lesson plans, answer the following: Link (associate) the current state of the economy today (think about real GDP declining tremendously and unemployment increasing to historical highs) to the type of monetary policy that the Bank of Canada should be pursuing. In doing so, you should include:
In the longer run, as economic conditions return to normal, what would happen in the economy if the central bank continues to pursue the same actions you should have stated in A) above. (remember: ‘money is neutral in the long-run’).
actions the central bank should pursue.
the sectors of the economy the central bank it is trying to influence.
explain how the monetary side of the economy is linked to the real side of the economy.
Requirements: .doc file