Exercise 1 (30): Download the following data from Eurostat (http://ec.europa.eu/eurostat/data/database): . National Accounts -international Data cooperation. Annual National Accounts. Gross value added by A*10 industry in GDP and main aggregates - selected international annual data . Current prices, million US dollars . Annual GDP 2017 . Canada, US, Mexico and UK . Total-All Nace Activities, Agriculture, forestry and fishing, Manufacturing and Wholesale and retail trade, transport, accommodation and food service activities a. Compare the production structure of Canada with the production structure of the following countries: In order to do that, calculate the contribution of each GDP component to total GDP by industry for every country. Discuss briefly the results. Note: You can use an excel or calc spreadsheet to do the calculations, but you need to include the final results (a table with the % of each component for each country) in the document you are going to hand in and to show (or explain) what is the formula you have used to calculate the contribution of each component. b. Read the "explanatory texts (metadata)" of the Eurostat data that you have downloaded. Discuss briefly if the GDP data of Canada provided by Eurostat is directly comparable with the GDP data of the other 3 countries (also provided by Eurostat).Exercise 2 [10). Using the information in the following table answer the questions below. Year Price of _ Apples 1 S 0.50 2 S 1.00 3 S 1.50 Share of Basket 0.75 0.5 0.25 Price of Share of _ Oranges Basket 5 3.00 0.25 $ 2.00 0.5 S 1.50 0.75 a. What is the CPI in Year 1 {using Year 1 as a base year)? b. What is the CPI in Year 2 {using Year 1 as a base year)? c. What is the CPI in Year3 (using Year 1 as a base year)? Fill up a table with the results {like the one below) and show your calculations for each question. Use a word processor (or any other similar software of your preference) to type your calculations CPI Year 1 Year 2 Year 3 Exercise 3 [10). Using the information in the following table answer the questions below. uan Year Price of Quantity Price of Q of ty A Ies ofA Ies Oran es pp pp 1; Oranges 1 S 0.50 1 5 1.00 3 2 S 1.00 2 S 2.00 2 3 S 1.00 3 S 2.00 1 a. What is Nominal GDP in year 1? b. What is Real GDP in year 2 (year 1 prices)? c. What is the GDP deflator in year 3? Fill up a table with the results (like the one below) and show your calculation for each question. Use a word processor {or any other similar software of your preference) to type your calculations. Res u Its Nominal GDP Year 1 Real GDP Year 2 Real GDP deflator Year 3