Reference no: EM132550918

For this assignment need data from Statistics Canada's CANSIM Database website www.statcan.gc.ca . This data is publicly available and you can also search by typing "Stats Canada CANSIM" in your search engine or alternately you can search through Humber college library's website. Find the Canada's Economic Accounts and prepare summary tables and answer the following questions:

A). Revised estimates of Canadian GDP are usually released by Statistics Canada near the end of each month. Find the source that reports on the most recent release, or read the news release yourself at www.statcan.gc.ca. Discuss the recent changes in real and nominal GDP and in the components of GDP.

B). Show the breakdown of GDP between different categories of income based and also breakdown of GDP between different categories of expenditure based. Prepare a table for Gross Domestic Product income based (annual) and Gross Domestic Product expenditure based (annual) at market prices for the time period of 2014 to 2018. Print a data table and attach to the end of the answer.

C). Prepare a table for Gross Domestic Product, expenditure based, at 2012 constant prices, annual for the year 2015 through 2018. Print a data table and attach to the end of your answer.

D). Define the real and nominal GDP. Compare the trend that you observed from the GDP at market price and GDP at constant prices (from the above tables). How are they different from each other?

E). Calculate GDP deflator for each year by using the real GDP and nominal GDP from the above tables. You can explain your answer in tabular form. Also briefly explain the meaning of GDP deflator as understood by you.