ps02 - University of Toronto Macroeconomics, Theory and...

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Unformatted text preview: University of Toronto Macroeconomics, Theory and policy Masoud Anjomshoa Economics Department Assignment #2 6- In 2001, Statistic Canada switched to a new approach of calculating growth rate of real GDP, called Chain-Weight real GDP, instead of traditional Fixed-Weight method. ------------------------------------------------------------------------------------ Apple Orange Year Quantity Price Quantity Price 1992 100 $0.25 50 $0.5 1993 102 $0.28 55 $0.48 1994 103 $0.32 60 $0.45 1995 104 $0.34 65 $0.44 1996 105 $0.36 70 $0.42------------------------------------------------------------------------------------ Calculate following GDP growth rates for the different base years by the traditional method and also by chain-weight method.- In traditional method when the base year changes, do the growth rates for all years change? How? - How about it, in the chained method?-------------------------------------------------------------------------------------------------------- 1992 1993 1994 1995 1996 Chain Base Base Base Base Base method-------------------------------------------------------------------------------------------------------- 1992-1993 growth rate ? ? ? ? ? ?...
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ps02 - University of Toronto Macroeconomics, Theory and...

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