Module 7 Paper

Module 7 Paper - In todays society the understanding of the...

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the term in an array of examples. But what truly makes up an economy? What are the factors that indicate a successful, stable, or declining economy? By analyzing the Country of Canada we will gain a more in depth perspective on the term. To help us understand the term we will be analyzing Canada’s GDP Real Growth Rate, Per Capita, and Percentage of GDP spent on military expenditures. We will also be viewing the Population Growth Rate and the human development index. To get things going let’s understand the term GDP, GDP stands for gross domestic product. The gross domestic product tells us the total market value of all goods and services manufactured in a country annually. We can see why viewing a country GDP will help us understand why an economy is thriving or suffering. For the nation of Canada based on the information derived from the “GDP Growth Rate” which is located in the appendix, we see that in 2003 Canada was doing well then in 2004 four they experienced a sharp decline in their growth and have been rebuilding it from 2004-2006. They then experienced another downturn from 2007- 2009 but in 2010 their figures have been increasing. The source of Canada’s growth is their Foreign trade and they specialize in exporting energy, their foreign trade is responsible for about 45 percent of the nation's gross domestic product (GDP). (http://www.tradingeconomics.com/canada/ ). To further add when researching it was discovered that the United States is Canada’s largest trade partner. GDP in itself holds a lot of information, which is why there are different methods of analyzing the GDP. The next way we can interpret the GDP is by viewing what is called GDP Per Capita which is found by dividing the country’s GDP (adjusted by inflation), by the total population. Canada has had a steady average from 2003-2010 of about $36,687 based on the data
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This note was uploaded on 08/04/2011 for the course ECN 601 taught by Professor Professor during the Spring '10 term at Grand Canyon.

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Module 7 Paper - In todays society the understanding of the...

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