Over the Past Century in Canada,by How Much Has Average

question 71

Multiple Choice

Over the past century in Canada,by how much has average income grown as measured by real GDP per person?

• A)about 3.5 percent per year, which implies a doubling about every 20 years
• B)about 2 percent per year, which implies a doubling about every 35 years
• C)about 4 percent per year, which implies a doubling about every 17.5 years
• D)about 1 percent per year, which implies a doubling about every 70 years

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Definitions:

Annual Profits

The total profit a business earns over one financial year, calculated as the difference between its revenue and expenses during that period.

Good Quality Product

A product that meets or exceeds customer expectations in terms of durability, reliability, functionality, and satisfaction.

Tit-for-Tat Strategy

A cooperative strategy in game theory where a player's move is to replicate the opponent's previous action, often used in repeat interaction settings to promote cooperation.

Cooperate

To work jointly towards a common goal or to work together in a cooperative manner.