Which of the following best describes the evolution of Canadian economy over the past decades?

Question

Quizplus · Accepted Answer

The statement "Continued growth in real GDP has allowed an improvement in Canadians' standard of living" best describes the evolution of the Canadian economy over the past decades. This means that while the real GDP has grown, the level of prices has not increased at the same rate, allowing for an improvement in the standard of living. Option A is incorrect because it implies a decrease in real GDP, which is not the case. Option B is partially correct but does not provide any detail on the growth rate of the economy. Option C is incorrect because it suggests that there has been no growth in real GDP, only an increase in prices.

Which of the Following Best Describes the Evolution of Canadian