Why Is Real Income for an Average Canadian Today So

question 24

Multiple Choice

Why is real income for an average Canadian today so much higher than it was for an average Canadian 100 years ago?

• A)Because of the increase in the labour force due to rising population,immigration and the increase in female labour-force participation.
• B)Primarily because productivity per worker is so much higher today than in the past.
• C)Because inflation has been maintained at relatively low levels throughout that time.
• D)Because free-trade agreements have vastly increased real incomes.
• E)Because the life span of the average worker has increased from about 55 years to about 80 years over that time period.

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Definitions:

Final Blueprints

The detailed plans or drawings used as a guide for building or constructing something, typically representing the last version after all revisions have been made.

Innovation Process

The sequence of activities involved in the ideation, development, and implementation of new products, services, or practices.

Concurrent Engineering

An approach to product development where functions are performed in parallel and design activities are integrated to reduce the time to market.

Product Development

The process of bringing a new product to market, including conception, design, creation, and marketing.