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:

Production Orientation

A business strategy focusing on production efficiency and product quantity rather than customer needs or preferences.