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:

Interrelated

Elements or concepts that are connected and have an impact on each other.

Recursive

A method or algorithm that solves problems by repeatedly calling itself with simpler inputs until reaching a base case.

Drafting

The process of creating preliminary versions of documents or drawings that will be revised and refined.

Revising

The act of modifying or altering texts to improve accuracy, coherence, and congruence with the intended message.