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Productivity Trends in the Canadian Economy From 1987 to 1997, labour productivity fell at an annual average rate of 0.3 percent in small rms and rose by 1.3 percent in large corporations. Between 1997 and 2005, labour productivity increased 3.2 percent per year in small rms and by 1.5 percent per year in large corporations. Source: Statistics Canada, The Daily, October 18, 2010 Explain how the productivity trends described in the news clip would change real GDP and employment. Draw a diagram to illustrate your answer An increase in labour productivity . Real GDP (billions of 2007 dollars) 'Q ' Adecrease in labour productivity . 2000 A. increases the demand for labour and the supply of labour; decreases the demand for labour and the supply of labour 1600 B. increases the supply of labour; decreases the supply of labour A\" C. increases the demand for labour; 1200 decreases the demand for labour D. has no effect on the labour market; has no effect on the labour market 800 An increase in labour productivity employment and real GDP. 400 A. does not change; has no effect .V B. increases; increases 0 o 10 20 30 4o 50 C. decreases; increases Labour (billions of hours per year)