Problem1This online activity uses data from Statistics Canada free online economic website https://www.statcan.gc.ca/eng/start to analyze the GDP. Download and locate GDP data based on expenditure approach and combine these data into an area graph. Get the following data series:
household final consumption expenditures
general governments final consumption expenditure and general governments gross fixed capital formation
business gross fixed capital formation
net exports of goods and services
retrieve data from 1981 – 2018 time series years; geography: Canada (chained 2012 dollars)
Create and present a graph with the above data categories.
Questions and discussion: the following questions relate to the final graph you developed above of GDP and its components and the above data.
discuss how any one component changed over time. Also why Canadians have net exports negative in some years?
How many periods of recessions have been in Canada from 1981 – 2018 year? What pattern can be seen from data in business investment before and during recessions?
What are the lowest and highest values of the government spending component and what percentage of GDP they represent?
Calculate and present the shares of government spending to GDP contribution for every year. What possible explanations are there for any changes in the shares the government spending contributes to GDP in Canada?
Problem 2
Go to the website of Statistics Canada and find data on the consumer price index for Ontario. By how much (percent change) has the index for each product group and also including all items risen over the years from 2016 to 2018? For which categories of spending have prices risen the most/the least for this reference period 2016 to 2018? How much is the percent price change (e.g., inflation) for each category of spending from 2016 to 2018? Have any categories experienced price declines? Explain any of these facts, e.g., explain thoroughly the reasons of CPI changes (from 2016 to 2018) for each category. Present the CPI data in a table over the years 2014 to 2018 for the province of Ontario.
Also, present a table with the basket weights of the CPI (weights at basket link month prices) for Ontario and for each category of products starting with 2009 until 2017 year.
Problem 3
Define labor productivity. Discuss the relationship between labor productivity, human capital growth, and technology change. Explain thoroughly with words + graph. Explain also the graph and how its components interact.
Problem 4
A. Explain why the supply and demand of loanable funds decreased during the global financial crisis of 2007-2008. Illustrate the source and effects of the crisis on saving, investment, and the real interest rate. Explain with words + graph.
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