Question 1:

In 2011,the value of goods and services produced in Quebec was $302.1 billion today. In 2012,the inflation rate measured on the basis of the GDP price index was 1.0% and the real GDP growth rate was -1.4%, in a recessionary context.

In 2012,several macroeconomic components, including those related to the calculation of GDP (in billions of current dollars) were:

Quebec's foreign trade balance was -27 billion.

The Quebec government purchased $73.4 billion worth of goods and services and $15.7 billion in infrastructure spending;

Quebec households received salaries of $164.9 billion as well as miscellaneous investment interest and income; This enabled them to purchase products and services for a total of $190.8 billion.

Profits of corporations and so-companies before tax reached $24.6 billion.

Construction companies (housing and factories) made $33 billion in investments; Overall, companies purchased $15 billion in machinery and equipment.

I.1 Using this information, calculate the 2012 nominal GDP using the expenditure method. complete Table 1 below.

TABLE 1

Calculating GDP by spending method

(in billions of current dollars)

C =

I =

G =

X - M =

Gross domestic product (GDP)

The presentation of the calculations and mandatory