When the USA experienced high inflation in the 1970s, Canada also experienced high inflation. Indeed, Canada...

When the USA experienced high inflation in the 1970s, Canada also experienced high inflation. Indeed, Canada was said to have “imported inflation” from the USA. If Canada’s exports to the USA were high, Canada’s foreign exchange reserves would have increased. Since exports create jobs, how could Canada have imported inflation from the USA?

Expert Solution

Rahul Sunny answered 8 months ago

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