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On September 15, 2014, the OECD Predicted That Global Growth

question 5

Multiple Choice

On September 15, 2014, the OECD predicted that global growth would continue at a moderate rate and that Canada's economic growth will strengthen. If the OECD forecasts turn out to be correct, and Canada is in a below full-employment equilibrium in 2014 (but close to full employment) , then in 2015 and 2016 the output gap will ________ and unemployment will ________.


Definitions:

Sensory Meaning

The significance or interpretation assigned to a particular sensory experience, such as a smell, sound, or visual.

Physiological Memory

The body's ability to retain and recall physical sensations and responses.

Working Memory

A cognitive system responsible for temporarily holding information available for processing, key in reasoning and the guidance of decision-making and behavior.

Short-Term Memory

A limited capacity store that can maintain unrehearsed information for about 20 to 30 seconds.

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