Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Set the GDP expenditure to search for the 4th Quarter data from last year (example Q4/2021). Set Prices: to Current prices, and set Seasonal adjustment:

Set the GDP expenditure to search for the 4th Quarter data from last year (example Q4/2021). Set Prices: to "Current prices," and set Seasonal adjustment: to "Seasonally adjusted at annual rates." Click apply to view the data. There is a button to Download the data if you require.

The data below in Column A shows items from Canada's national accounts in Qtr4 of 202x. The values are in x$1,000,000.

Use the expenditure approach to calculate the value of the GDP in column B.

Use the income approach to calculate the value of the GDP in column C.

Explain in your own words the reason why the aggregate GDP income equals the aggregate GDP expenditure.

GDP Category

(A)

Qtr4-202x Values

(B)

GDP from Expenditure

Approach

(C)

GDP from Income

Approach

Consumer consumption expenditure

1,385

Government consumption and expenditure

659

Rent and interest

347

Investments by businesses

535

Corporate profit

992

Net exports

325

Wages

1,422

Indirect taxes less subsidies

312

Depreciation

444

Total

xxx

xxx

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Sure heres how you can calculate the GDP using both the expenditure and income approaches and explai... 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_2

Step: 3

blur-text-image_3

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

Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

9th Edition

1337614689, 1337614688, 9781337668262, 978-1337614689

More Books

Students explore these related Economics questions

Question

What is the purpose of the journal wizard?

Answered: 3 weeks ago