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 _________________.

Question

Quizplus · Accepted Answer

If the share of people in paid jobs decreases due to the retirement of baby boomers and the nearly peaked women's participation rate, it would decrease Canada's real GDP per person. Thus, the only viable option for improving Canada's living standards would be growth in average labour productivity.

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