The Balance of Payments That Canada Has Experienced Has Been

question 167

Multiple Choice

The balance of payments that Canada has experienced has been

• A) unfavourable for many years.
• B) favourable since Confederation.
• C) changing between favourable and unfavourable with about a seven year cycle.
• D) favourable for the last 30 years.
• E) unfavourable since Confederation.

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a marketplace.

Average Variable Cost

The total variable cost per unit of output, calculated by dividing total variable costs by the quantity of output produced.

Profit Maximization

The method used by a company to establish the price and quantity of production that generates the maximum profit.

Lowest Output

The minimum amount of goods or services produced by an entity under given conditions.