The First 3 Columns of the Following Table Show Data

question 85

Multiple Choice

The first 3 columns of the following table show data for a representative firm in an industry.The last 3 columns show the market demand and supply for the type of labour employed by this firm.

-If trend lines representing Canada's real GDP per hour and the real hourly wage in Canada were plotted over a period of the last 50 years,what type of correlation would it show?

• A)A very close correlation for the whole period.
• B)A very close correlation for the first twenty five years followed by the real hourly wage rate raising significantly above real GDP per hour.
• C)A very close correlation for the first twenty five years followed by the real GDP per hour raising significantly above real hourly wage rate.
• D)A gradual convergence of the two trends starting from the position of the real hourly wage rate being significantly above real GDP per hour.

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Definitions:

Days

The basic unit of time, equal to 24 hours, used to measure duration from one midnight to the next.

Interest Earned

The amount of money made on an investment over a certain period of time due to interest.

Account

A record or arrangement by which an individual or organization keeps track of their financial transactions and balances with a financial institution.

Days

Units of time that represent a 24-hour period, used to measure durations and intervals.