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d) [10 marks]Define the GDP Deator and using the data tables for nominal GDP (market prices) and for real GDP (constant or chained prices), calculate
d) [10 marks]Define the GDP Deator and using the data tables for nominal GDP (market prices) and for real GDP (constant or chained prices), calculate the GDP deator for each year. Present the data in a table for each year. Show all your work. [10 marks]For the year 2019, calculate the values of each of the four components of GDP at market prices (Expenditure based): consumption (C), investment (1), government purchases (G), and net exports (NX). Show and explain all your calculations. Make sure to include the subcomponents that are relevant to each of the four components only. It's ideal to do this in MS Excel to do the calculation easily. [Note: Statistics Canada has a detailed expenditure based table and they made the calculations according to their use and hence you will have to conduct some further research into what subcomponent of C for example will make up the C and similarly what items go under I and G. NX is usually straightforward] Please check a document on assignment 1 page and read that before solving this part of the assignment]
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