Unit 3: The Roaring Twenties and the economic crisis b) The ups and downs of the economy.

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Unit 3: The Roaring Twenties and the economic crisis b) The ups and downs of the economy

Economic flow for the period between the two world wars is divided into three main sections: 1.Economic Recession ( ) 2.Economic Recovery ( ) 3.Economic Depression ( )

b) The ups and downs of the economy 1.Economic Recession: causes: – Impact of war – Huge debt in European countries means less exporting for Canadian products – High tariffs on U.S. products; Canada loses much of its overseas market

b) The ups and downs of the economy 1.Economic Recession : – Features: High unemployment Increase in the number of bankruptcies Many Canadians leave the country for the United States

b) The ups and downs of the economy 2. Economic Recovery: Features: – Low unemployment – Purchase of new products new technologies – More time for leisure (cinema, jazz, travel...)

b) The ups and downs of the economy 2. Economic Recovery: – Causes: European countries borrow from the U.S., – can now buy canadian products. wheat value increases. Expansion of the Canadian industry – (pulp and paper, hydropower, mining, automotive...) More American investment in Canada

b) The ups and downs of the economy 2. Economic Recovery: Features: – Low unemployment – Purchase of new products new technologies – More time for leisure (cinema, jazz, travel...)