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Canada
is world's wealthiest nations with a elevated per capita returns,
a associate of the Organization for Economic Co-operation and Development
(OECD) and Group of Eight (G8). Canada is a free market economy
with a little more government intervention than the United States,
but many less than most European nations. Canada has traditionally
had a lower per capita gross domestic product than its southern
neighbor, but higher than the large western European economies.
For the past decade, the Canadian economy has been growing rapidly
with low unemployment and large government surpluses on the national
level. Today Canada closely resembles the U.S. in its market-oriented
economic system, pattern of production, and high living standards.
While as of October 2006, Canada's national unemployment rate of
6.3% is among its lowest in 30 years, provincial unemployment rates
vary from a low of 3.6% in Alberta to a high of 14.6% in Newfoundland
and Labrador. |
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