Mon. Dec 5th, 2022

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Canada takes up most of North America. It extends from the Atlantic to the east to the Pacific. It is composed of ten provinces and three territories and is taken into account together of the world’s most developed countries.

Canada is taken into account a resource-based country, which basically means most of the economic process it experienced early came from the use and export of its own natural resources.

According to the IMF, Canada’s economy is the tenth-largest within the world, making it a part of the world’s G8. It ranks the seventh biggest producer of gold and therefore the fourth-largest producer of black crack (oil).

Despite its robust industrial and manufacturing industry, much of Canada’s GDP actually comes from its service sector. Its advanced services sector employs three out of each four working Canadians and accounts for about 70% of the country’s GDP.

The Bank of Canada (BOC) is the main administration when it involves determining the country’s monetary policy. Decisions on the monetary policy are made by the Governing Council, which is formed from the bank’s governor, the senior deputy, and four other deputy governors.

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