Although Ontario has the highest GDP by province in Canada, it also has one of the largest
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Although Ontario has the highest GDP by province in Canada, it also has one of the largest provincial debt in Canada. We often hear that the problem is the province’s low savings rate. Suppose policy makers attempt to rectify this by encouraging greater savings in the economy. What effect will their successful attempts have on Ontario’s real GDP?
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If policy makers successfully encouraged greater savings there would be a decrease in either consu...View the full answer
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Related Book For
Macroeconomics
ISBN: 978-1319120054
3rd Canadian edition
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
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