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Canada's 2024 Economic Landscape: Interest Rates, Inflation, and Tech Sector Surge
Canadian Economy
A comprehensive overview of Canada's current economic trends, focusing on market shifts, interest rate policies, inflation rates, and the booming tech sector.
Canada
Economy
Finance
Interest Rates
Inflation
Tech Sector
20 Questions
Medium
Ages 5+
Jun 16, 2026
About this Study Set
This study set covers Canadian Economy through
20 practice questions.
A comprehensive overview of Canada's current economic trends, focusing on market shifts, interest rate policies, inflation rates, and the booming tech sector. Every question includes the correct answer so you can learn as you go — pick any format above to get started.
Questions & Answers
Browse all 20 questions from the
Canada's 2024 Economic Landscape: Interest Rates, Inflation, and Tech Sector Surge study set below.
Each question shows the correct answer — select a study format above to practice interactively.
1
In June 2024, the Bank of Canada announced a cut to its overnight lending rate. What was the new rate?
-
A
4.50%
-
B
4.75%
-
C
5.00%
-
D
5.25%
2
What was the annual inflation rate in Canada as of April 2026, according to recent reports?
-
A
2.0%
-
B
2.4%
-
C
2.8%
-
D
3.1%
3
According to a September 2025 report, how did Canada's tech talent growth in 2024 compare to that of the United States?
-
A
Canada's growth was slower than the US.
-
B
Canada's growth was on par with the US.
-
C
Canada's growth was significantly stronger than the US.
-
D
The report did not compare Canada's tech talent growth to the US.
4
What was the average exchange rate of the Canadian dollar to the US dollar in 2024?
-
A
US$0.74
-
B
US$0.73
-
C
US$0.72
-
D
US$0.75
5
In 2024, how did Canada's total retail spending change compared to the previous year?
-
A
It decreased by 3.0%.
-
B
It remained unchanged.
-
C
It increased by 3.0%.
-
D
It increased by 9.0%.
6
According to the Bank of Canada's October 2024 Monetary Policy Report, what was the projected GDP growth for Canada in 2024?
-
A
0.5%
-
B
1.2%
-
C
2.1%
-
D
2.3%
7
What was the primary driver for the widening of Canada's merchandise trade surplus in April 2026?
-
A
Increased imports of machinery and equipment
-
B
Higher energy prices
-
C
A surge in automotive exports
-
D
A decline in wheat exports
8
In December 2024, what was the composite benchmark price for Canadian homes down by year-over-year, according to CREA data?
-
A
0.0%
-
B
-0.2%
-
C
-1.5%
-
D
-17.2%
9
What percentage of Canada's GDP did the ICT sector account for in 2024?
-
A
3.9%
-
B
5.8%
-
C
19.0%
-
D
45.0%
10
As of April 2026, what is the Bank of Canada's inflation-control target range?
-
A
1.5% to 3.5%
-
B
1% to 3%
-
C
2.0% to 4.0%
-
D
0.5% to 2.5%
11
What was the unemployment rate in Canada in October 2024, according to year-over-year data?
-
A
5.8%
-
B
6.0%
-
C
6.5%
-
D
6.7%
12
Which Canadian cities were identified as becoming stronger tech markets in a September 2025 report?
-
A
Montreal, Calgary, and Edmonton
-
B
Toronto, Waterloo, Edmonton, and Calgary
-
C
Vancouver, Ottawa, and Montreal
-
D
Quebec City, Halifax, and Winnipeg
13
What was the average hourly wage growth in Canada for all employees from Q4 2023 to Q4 2024?
-
A
1.8%
-
B
2.0%
-
C
4.3%
-
D
5.0%
14
In 2024, what was the projected revenue growth for the software and computer services sub-sector of the ICT sector?
-
A
+15.6%
-
B
-1.9%
-
C
-8.5%
-
D
-0.9%
15
What was the approximate average exchange rate of the Canadian dollar to the US dollar in December 2024, according to one report?
-
A
0.7548 USD
-
B
0.7299 USD
-
C
0.6915 USD
-
D
0.7100 USD
16
In December 2024, what was the employment growth in Canada compared to 12 months earlier?
-
A
1.0% (413,000)
-
B
2.0% (413,000)
-
C
2.5% (205,000)
-
D
3.7% (156,000)
17
Which of the following was NOT a reason cited for the slowdown in the Canadian housing market in late 2024?
-
A
High prices and affordability strains
-
B
Government cuts to immigration
-
C
Increased new condo completions in Toronto
-
D
Anticipated interest rate reductions
18
What was the primary driver of the increase in Canada's annual inflation rate to 2.8% in April 2026?
-
A
Increased shelter costs
-
B
Rising food prices
-
C
Higher energy prices, particularly gasoline
-
D
A surge in clothing and footwear prices
19
In 2024, what was the estimated median annual wage for a technology worker in Canada, in CAD?
-
A
$75,000
-
B
$85,000
-
C
$97,197
-
D
$105,000
20
What was Canada's merchandise trade surplus with the United States in April 2026?
-
A
$7.8 billion
-
B
$9.5 billion
-
C
$2.7 billion
-
D
$1.8 billion
