Which Statement Best Describes the Evolution of the Canadian Economy

question 101

Multiple Choice

Which statement best describes the evolution of the Canadian economy over the past decades?

• A) Real GDP in 2018 was less than three times its level in 1970.
• B) The output of goods and services grew on average about 1 percent per year from 1970 to 2018.
• C) Real GDP was approximately constant over the past decades, only prices have increased.
• D) Growth in real GDP has allowed an improvement in Canadians' standard of living.

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Definitions:

Irreversibility

A cognitive limitation in young children's thinking, where they are unable to understand that an action can be done and undone.

Internalized Sets

Concepts, beliefs, or ways of thinking that have been fully absorbed into one's mindset and influence behavior and decision-making.

Operations

Mental actions that are reversible and allow children to do mentally what they previously did physically, a key concept in cognitive development theory.

Schemas

Cognitive structures that organize knowledge and guide information processing, based on themes or subjects.