Real Gross Domestic Product (GDP)-the output of goods and services provided by labor and property. The comparison of Canada and the U.S. has always been a close race. The United States is usually always slightly ahead. They are currently very similar when it comes down to raw statistics.
After a couple of decades of declining growth rates, many economies now know that high income developed economies can no longer achieve and sustain real growth rates of 3.5 percent and up. There are many reasons for this. For a little while it was being blamed on rising energy prices. Some now argue that wealthy, high-income nations are unable to grow rapidly because their citizens are unwilling to save very much. Also, some are trying to say that there are some constraints imposed by technology, or global movement of capital. Canada has only increased by 4 percent over the past five years. Only three provinces and one territory have rates over the national average. Alberta with the lead of 10.3 percent and Nunavut following with 8.1 percent. Ontario's rate is at a climbing 6.1 percent with B.C. right behind with a 4.9 percent.
(See exhibit 3-1).
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Unemployment for United States and Canada is considered to be a twin mystery. There is a high correlation between unemployment rates and the emergence of a gap between these rates around 1982. There is an argument that there is an apparently close emergence rates are highly persistent. The permanent increase in the gap is not strikingly large compared with other years. That means that there is little reason to limit explanations for the current gap to events that took place in 1982.
(See exhibit 3-2).
Business cycles are periodical swings in an economies pace of demand and production activity. These cycles are characterized by alternating phases of growth and stagnation. Canada's business cycles have a direct impact on their citizens. Economic boom brings jobs, growth, and economic prosperity.
GDP. ... Aspects in our economy have the potential to impact our GDP dramatically. ... If the stock market is low or dropping, the GDP will decline. ... Therefore, making the GDP drop dramatically. ... Therefore, the GDP is affected, because the more money there is out, the lower the value of our GDP. ...
Real GDP per capita is real GDP divided by the number of people in the economy. ... The GDP measure says we are on the right track. However, GDP is not without shortcomings. ... GDP seems to be missing what's actually going on. What is wrong with the GDP? ...
The three independent measures of GDP using the income approach (GDP(I)), the expenditure approach (GDP(E)) and the production approach (GDP(P)) have been initially balanced for 2000-01 in both current prices and in chain volume terms, resulting in revisions for that year. An investigation revealed that the annual volume movements for GDP(E) and GDP(P) were unbalanced in 1999-2000. Adjustments to ensure balanced movements in both measures resulted in a -0.3% revision to the annual volume growth in GDP in 1999-2000. There have also been revisions of +0.1% to the annual volume growth rate of ...
Index of Industrial Production Index of Industrial Production (IP) is compiled by the Federal Reserve Board of Governors and reflects levels of output for manufacturing, mining, and public utilities Federal Deficit An excess of goverment spending over government receipts Gross National Product & Related Indicators GDP at market prices This is equal to gross domestic product (GDP) at factor cost, plus indirect taxes, less subsidies. GDP at factor cost is equal to gross output of all commodities, industries, etc. evaluated at factor cost, less the purchaser's value of intermediate ...
Poor growth performance: The Japanese GDP growth in early 1990's was almost zero implying no new money in the economy and an inevitable recession. Serious fiscal problems: Large and growing public debt to GDP ratio, in 1992 it was 63% and rose to 89% by 1996. Debt ratio as a percent of GDP being this high isn't helpful to the economy because it implies that people are spending above their means. ...
Economics" Essay This year in economics I learned that I am a consumer. Consumers are people who use goods and services to satisfy wants and needs. The economy is based on people like me and the general public in our everyday lives. Without us there would be no business organization, which is a p...
The measure and ranking of a country's GDP is extremely important. America leads the world in the highest GDP; for now. ... While America dropped in GDP, China continued to grow. ... (Clifton, 2011) How will this drop in GDP affect US citizens? ... Without great GDP growth there will not be a growth in jobs. ...
It gave statistics on the GDP of Arab countries, with an interesting correlation to happiness. ... The government will sometimes make the comparison of GDP relating to overall happiness, that when someone has higher income or access to more goods, they are automatically apt to be happier in life. ... There are many reasons why higher income levels and GDP should not be considered automatic indicators of happiness, especially in Arab countries. ...
To make matters worse, the whole country experienced a significant drop in its GDP, causing a recession from 1976 through to 1985. ... Despite this growth, a look at the added Gross Domestic Product (GDP) of eastern states - $108.3 billion, an increase of 9% from the previous year - shows it falls significantly short of the $1.23 trillion GDP of western states. ... So combined, this gives the Republic a valued GDP, in 1994, of nearly $1.34 trillion. ... One of the largest contributors to the GDP is manufacturing and the goods that it produces - claiming nearly 40% of the total GDP every year s...
