Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data series for Canada, two of the Canadian main oil-exporting provinces, Alberta and Newfoundland and Labrador, and two of the Canadian main oil-importing

image text in transcribedimage text in transcribed

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
The following data series for Canada, two of the Canadian main oil-exporting provinces, Alberta and Newfoundland and Labrador, and two of the Canadian main oil-importing provinces, Ontario and Quebec, are provided: (1) GDP at market prices in chained 2012 dollars for the period 1981-2019; (2) Population (for both sexes and all ages) for the period 1981-2019. a) Plot real GDP (the GDP in chained 2012 dollars) for Canada and all provinces over the period in separate graphs, briefly comment on their trends and compare the two oil-exporting provinces' trends with those of the two oil-importing provinces. b) Compute the year to year percentage changes of real GDP for Canada and all provinces over 1982-2019. Report the (arithmetic) average growth rates for four different sub-periods: 1982-1989, 1990-1999, 2000-2009, and 2010-2019 in a table and comment on your ndings. (Note: you do not need to report the GDP growth rates for every year) c) Use the annual population and real GDP data to construct the GDP per capita series for Canada and all provinces and plot them in the same graph. Briey comment on their trends and compare the two oil-exporting provinces' trends with those of the two oil-importing provinces. Moreover, 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) (:1) Compute the year to year percentage changes of real GDP per capita for Canada and all provinces over 1982-2019. Report the (arithmetic) average growth rates for four different sub-periods: 1982-1989, 1990-1999, 2000-2009, and 2010-2019 in a table and comment on your ndings. Geography: Canada, Province or territory Canada Newfoundland and Labrador Quebec Ontario Alberta Chained (2012) dollars Chained (2012) dollars Chained (2012) dollars Chained (2012) dollars Chained (2012) dollars Reference GDP at market prices GDP at market prices GDP at market prices GDP at market prices GDP at market prices 1981 871,367 15,452 196,091 308,001 123,937 1982 843,594 15,543 188,786 298.227 120,829 1983 865.539 16,069 192.248 313,435 120.183 1984 916.679 16,561 201.172 341.103 126.077 1985 960.106 16,921 207.828 358.494 135,267 1986 980.700 16,961 210.826 371,549 131,453 1987 1,020.643 17.602 219.717 389,476 133.853 1988 1,065.655 18,498 228.520 407.173 144,166 1989 1,090.346 19.192 229.192 420.695 146.273 1990 1,092.141 19.281 230,456 414,066 149,568 1991 1,069,358 19,372 224.585 400.193 150.229 1992 1,078,985 18,987 225.375 405.564 151,229 1993 1,107.696 19.257 230,500 411,365 162,978 1994 1,157,481 20.012 241,075 433.727 172,000 1995 1,188,663 20.656 246.253 447.735 177,278 1996 1.207,909 19.682 249.340 455.035 181.537 1997 1.259,608 19,908 256,374 477.053 193,931 1998 1.308,685 20.895 264.665 498.740 203.479 1999 1,376.251 22.144 280,467 533.253 206,002 2000 1,447,508 23.334 292.882 567,019 218.678 2001 1.473,418 23.894 297.992 577.397 222.271 2002 1,517.887 27,746 306.269 597.107 227.363 2003 1,545.232 29.562 309,948 603.720 235.234 2004 1,592,933 29.354 317.700 620.670 248.322 2005 1,643,973 30.187 322.404 640.614 259.282 2006 1,687,281 31.391 326.298 652.625 275.756 2007 1.722.238 34.929 334.273 657.733 280.600 2008 1,739,534 34.404 340.867 657.720 285.125 2009 1,688,636 30,954 338.180 637.298 269.322 2010 1,740.814 32.639 344,934 656.103 282.702 2011 1,795,582 33,531 351,401 671,942 300.948 2012 1,827.201 32.064 355.254 680.792 312.708 2013 1,869,759 33.748 359,993 690.275 330.548 2014 1,923,422 33,355 365,719 707.589 350,033 2015 1,936,100 32.965 368,982 724,946 337.069 2016 1.955,488 33.461 374,899 740.164 325.421 2017 2.014,933 33,953 385.620 761,025 340.062 2018 2.063,887 32.763 396.838 782.115 346.611 2019 2.102.304 34.075 407.590 798.213 347.102 GDP Population +Canada Newfoundland and Labrador Quebec Ontario Alberta Both sexes Both sexes Both sexes Both sexes Both sexes Reference All ages All ages All ages All ages All ages Persons 1981 24,819.915 575,302 6.547.207 8.812.286 2.291.104 1982 25.116,942 573.795 6,580,631 8.920.288 2.369.827 1983 25.366,451 579.164 6.602,976 9,039.564 2.393.587 1984 25.607.053 580,065 6.631.220 9.167.484 2.393,907 1985 25.842.116 579.275 6,665.802 9.294.657 2.404.490 1986 26.100.278 576.306 6.708.170 9.437,359 2.432,930 1987 26,446.601 575.242 6,781,984 9.637.945 2.440.877 1988 26.791.747 574,982 6.837.077 9.838.620 2.456.614 1989 27.276.781 576.551 6,925.128 10,103,305 2.498.325 1990 27.691.138 577.368 6,996.986 10.295.832 2.547.788 1991 28.037,420 579.644 7.067.396 10,431,316 2.592.306 1992 28.371.264 580,109 7.110,010 10.572.205 2.632.672 1993 28.684,764 579.977 7,156.537 10,690,038 2.667.292 1994 29.000.663 574.466 7.192.403 10.819.146 2.700.606 1995 29.302.311 567,397 7.219.219 10,950.119 2.734.519 1996 29.610.218 559.698 7.246.897 11,082.903 2.775.133 1997 29.905.948 550.911 7.274.611 11.227.651 2.829.848 1998 30.155.173 539.843 7.295.935 11,365,901 2.899,066 1999 30.401.286 533.329 7.323.250 11,504,759 2.952.692 2000 30.685.730 527.966 7.356.951 11.683.290 3,004,198 2001 31,020,902 522.046 7.396,456 11,897.534 3,058.108 2002 31.360,079 519,481 7,441.656 12,094,174 3.128.429 2003 31.644.028 518.459 7.485,753 12.245,039 3.183,065 2004 31,940.655 517.423 7,535,590 12,391,421 3.238.668 2005 32.243.753 514,332 7.581,476 12.528.663 3.321.768 2006 32.571.174 510.592 7.631,966 12,661,878 3.421,434 32.889,025 509.055 7.692,916 12,764,806 3,514,147 2008 33.247.118 511,581 7.761.725 12,883,583 3.595.856 2009 33.628.895 516,751 7,843.383 12,998.345 3,678.996 2010 34,004,889 522.009 7.929.222 13,135.778 3.732.082 2011 34,339.328 524.999 8,005,090 13.261,381 3.789,030 2 34,714,222 526.345 8,061,101 13,390,632 3.874,548 3 35.082.954 527.114 8.110.880 13.510.781 3,981.011 4 35,437,435 528.159 8.150.183 13,617.553 4,083.648 2015 35.702.908 528.117 8.175.272 13,707.118 4.144,491 2016 36.109.487 529,426 8.225.950 13.875.394 4.196.061 7 36.545,295 528.249 8.302,063 14,070.141 4.241,100 2018 37.065.178 525.560 8,401.738 14,308.697 4.298.275 2019 37.593.384 523.476 8.501,703 14,544,718 4,361,694 GDP Population (+

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

Essentials Of Business Law

Authors: Jeffrey F Beatty, Susan S Samuelson

3rd Edition

0324537123, 9780324537123

More Books

Students also viewed these Economics questions