Eco1102 Assignment 1 David grey
1. a) i) The content of the table is about Canada’s economic and financial situation divided into four sectors: real sector, fiscal sector, financial sector, and external factor. Each of the four sectors is divided into smaller categories. For example: real sector is divided into national accounts, production index, labor market, prices indices. The other three factors are also divided into smaller categories just like the real sector. In addition, this table has the most recent GDP to show the success of Canada’s economy. The overall goal of the data is to show Canada’s recent economic situation.
ii) There are five level one headings in this table, which are: real sector, fiscal sector, financial sector, external sector, and population.
iii) Price variables (‘P’ variables) include: GDP at current prices, GDP at constant prices, wages/earnings, consumer price index, interest rate and exchange rate. Quantity variables (‘Q’ variables) include: employment, unemployment, labor force, money supply represented by M1+.
iv) The fiscal sector consists of government fiscal operations and government actions, which include: general government operations like net lending or borrowing, central government operations is like government revenues, and central government debt like gross debt.
b) i) The content of the table is about measuring Canada’s GDP using the expenditure approach, such as: consumption, investment, import and export, etc. The table is labeled very well.
ii) There are six level one headings in this table. Which are: final consumption expenditure, gross fixed capital formation, investment in inventories, exports of goods and services, less: imports of goods and services, and statistical discrepancy.
iii) The calculation will take: final consumption expenditure + gross fixed capital formation + investment in inventories + exports of goods and services - less:imports of goods and services + statistical discrepancy. (In millions for year 2012)
ii) There are five level one headings in this table, which are: real sector, fiscal sector, financial sector, external sector, and population.
iii) Price variables (‘P’ variables) include: GDP at current prices, GDP at constant prices, wages/earnings, consumer price index, interest rate and exchange rate. Quantity variables (‘Q’ variables) include: employment, unemployment, labor force, money supply represented by M1+.
iv) The fiscal sector consists of government fiscal operations and government actions, which include: general government operations like net lending or borrowing, central government operations is like government revenues, and central government debt like gross debt.
b) i) The content of the table is about measuring Canada’s GDP using the expenditure approach, such as: consumption, investment, import and export, etc. The table is labeled very well.
ii) There are six level one headings in this table. Which are: final consumption expenditure, gross fixed capital formation, investment in inventories, exports of goods and services, less: imports of goods and services, and statistical discrepancy.
iii) The calculation will take: final consumption expenditure + gross fixed capital formation + investment in inventories + exports of goods and services - less:imports of goods and services + statistical discrepancy. (In millions for year 2012)