The three main reasons that Canada's real GDP has increased steadily for many years are
A)increasing productivity of labour, increasing productivity of land and increasing productivity of the capital stock.
B)rising employment, increasing stock of physical capital and increasing productivity.
C)the increase in life expectancy, the rise in employment and increasing productivity.
D)rising employment, increasing levels of education of the labour force and the increase in the participation rate of women in the labour force.
E)an increasing stock of physical capital, increasing exports and rising employment.

Question

Quizplus · Accepted Answer

The three main reasons that Canada's real GDP has increased steadily for many years are rising employment, increasing stock of physical capital, and increasing productivity. These factors have contributed to the growth of the economy by increasing the amount of goods and services produced, as well as the efficiency with which they are produced. Rising employment has increased the labour force, which has led to more production. An increasing stock of physical capital, such as machinery and equipment, has allowed firms to produce more goods and services with less labour. Finally, increasing productivity has led to more efficient production processes, resulting in higher output levels.

The Three Main Reasons That Canada's Real GDP Has Increased