Question

The economic effects of aging for Canada will be principally the:

(A question about the economic effects of aging in Canada)
A) Result of a decline in the availability of labor supply in relation to an aging and increasingly dependent population, with a consequent reduction of real GDP/capita.
B) Result of a decline in the availability of labor supply in relation to an aging and decreasingly dependent population, with a consequent reduction of real GDP/capita.
C) Result of a decline in the availability of labor supply in relation to an aging and increasingly dependent population, with no change in real GDP/capita.
D) Result of a decline in the availability of labor supply in relation to an aging and decreasingly dependent population, with a consequent reduction of real GDP/capita.
E) None of the above.

Answer 1

The economic effects of aging for Canada will primarily be a decline in labor supply and a reduction in real GDP per capita.

Step-by-step explanation:

The economic effects of aging for Canada will be principally the result of a decline in the availability of labor supply in relation to an aging and increasingly dependent population, with a consequent reduction of real GDP per capita (option A). As the population ages and more people retire, there will be a decrease in the number of people available to work, leading to a decrease in the labor supply. This can result in a lower GDP per capita as there are fewer workers contributing to the overall economy.