Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1: Some Canadian Macroeconomic Data [30 marks] This question asks you to retrieve data from Statistics Canada website and conduct some basic empirical analysis.

image text in transcribed
image text in transcribed
Question 1: Some Canadian Macroeconomic Data [30 marks] This question asks you to retrieve data from Statistics Canada website and conduct some basic empirical analysis. Once you have the data, any spreadsheet program, such as Microsoft Excel or Calc from the LibreOffice Suite (available freely for both Windows and Mac OS X operating systems), will work well for our purposes. Search for table 36-10-0222-01 (gross domestic product, expenditure-based, provincial and territorial, annual), and table 17-10-0005-01 (population estimates on July 1st, by age and sex, annual). You need to retrieve the following data series for Canada, Alberta, and Ontario: (1) GDP at market prices in chained 2012 dollars for the period 1981-2018 (2) Population (for both sexes and all ages) for the period 1981- 2018 a) Plot real GDP (the GDP in chained 2012 dollars) for Canada, Alberta, and Ontario over the time period in the same graph and briefly comment on their trends. b) Compute the year to year percentage changes of real GDP for the period 1982-2018. Report the (arithmetic) average growth rates for four different sub-periods: 1982-1989, 1990-1999, 2000-2009, and 2010-2018 in a table and comment on your findings. (Note: you do not need to report the GDP growth rates for every year) c) Use annual population and real GDP data to construct the GDP per capita series for Canada, Alberta, and Ontario and plot them in a graph. Briefly comment on their trends and compare the results to part a. (Note: you need to multiply the real GDP values by 1000000 and then divide them by the population size)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: Michael Parkin

10th Edition

013485330X, 978-0134853307

More Books

Students also viewed these Economics questions

Question

8. What are the costs of collecting the information?

Answered: 1 week ago