The Three Main Reasons That Canada's Real GDP Has Increased

question 26

Multiple Choice

The three main reasons that Canada's real GDP has increased steadily for many years are

• A)rising employment,increasing levels of education of the labour force and the increase in the participation rate of women in the labour force.
• B)an increasing stock of physical capital,increasing exports and rising employment.
• C)the increase in life expectancy,the rise in employment and increasing productivity.
• D)rising employment,increasing stock of physical capital and increasing productivity.
• E)increasing productivity of labour,increasing productivity of land and increasing productivity of the capital stock.

Explain consumer surplus and producer surplus in a market transaction.

Recognize the role of competitive markets and the principle of the invisible hand in promoting efficient resource use.

Identify the characteristics and benefits of indexed equity mutual funds.

Understand the impact of cost changes on market supply and quantity.

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Definitions:

Borrowing Rate

The interest rate applied to loans and borrowings taken by a company or an individual.

Note Payable

A written promise to pay a certain amount of money, usually with interest, at a future date or over a period of time.

Market Interest Rate

The rate at which interest is paid by borrowers for borrowing funds in the market.

Compounded Annually

A method of calculating interest in which the interest earned each year is added to the principal, so that the balance doesn't merely grow, it grows at an increasing rate.