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The Gains in Canada's Real Gdp Per Person Between 1960

Question 57
Multiple Choice

The gains in Canada's real GDP per person between 1960 and 2000 associated with increases in the share of the population with paid jobs must be considered temporary because it was the result of an unusual influx of women and young people (baby boomers)into the labour market.If women's participation rate has nearly peaked,as the baby boomers begin and continue to retire over the next two to three decades,the share of people in paid jobs will tend to ___________.This means that the key permanent source for improving Canada's living standards will most likely be growth in _________________. A) decrease;average labour productivity B) decrease;average capital productivity C) decrease;average land productivity D) decrease;average total productivity E) decrease;average machine productivity

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Q 58
Real GDP was $4,719 billion in Year 1 and $4,848 billion in Year 2.In contrast,real GDP per capita in Year 1 was $19,261,but in Year 2 it was only $19,162.How could one measure have increased while the other measure decreased? A) Real GDP indicates the level of industrial production and provides a measure of the economic strength of the nation;it is the only valid measure of economic growth. B) Inflation occurred during this period;therefore the two measures are not comparable. C) The population increased during this time period,so the real GDP per capita data reflect this change. D) Real GDP per capita measures changes in labour productivity that are not captured by a simple measure like real GDP. E) The population decreased during this time period,so the real GDP per capita data reflect this changE.
Q 59
Total real output can be determined by A) multiplying the input of labour (measured in worker-hours)by labour productivity (measured by real output per worker per hour). B) multiplying the output of labour (measured in dollars)by labour productivity (measured by real output per worker per hour). C) dividing the output of labour (measured in dollars)by labour productivity (measured by real output per worker per hour). D) dividing the input of labour (measured in worker-hours)by labour productivity (measured by real output per worker per hour). E) adding the input of labour (measured in worker-hours)to labour productivity (measured by real output per worker per hour).
Q 60
Assume that an economy has 2,000 workers,each working 4,000 hours per year.If the average real output per worker-hour is $10,then total output or real GDP will be A) $20 million. B) $40 million. C) $80 million. D) $100 million. E) $120 million.
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