ECOMONY OF CANADA.docx - ECOMONY OF CANADA INTRODUCTION.3 GDP.4 What is GDP.4 Types of GDP.5 ECONOMIC WELLBEING.8 Life Expectancy.8 Internet Usage.9 Ha

ECOMONY OF CANADA.docx - ECOMONY OF CANADA INTRODUCTION.3...

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ECOMONY OF CANADA INTRODUCTION ........................................................................................................................... 3 GDP ................................................................................................................................................. 4 What is GDP? ............................................................................................................................... 4 Types of GDP ............................................................................................................................... 5 ECONOMIC WELLBEING ............................................................................................................ 8 Life Expectancy ........................................................................................................................... 8 Internet Usage .............................................................................................................................. 9 Happiness Index ......................................................................................................................... 10 Literacy Rate .............................................................................................................................. 11 STANDARD OF LIVING ............................................................................................................. 12 Highest standard of living .......................................................................................................... 13 PER CAPITA INCOME ................................................................................................................ 13 Relation between the Per Capital Income and Standard of Living ............................................ 14 Per Capital Income and Average Income Per Capital ................................................................ 14 Relation between GDP and Standard of Living ......................................................................... 14 Human Development Index ....................................................................................................... 15 ABILITY TO PRODUCE GOODS AND SERVICES .................................................................. 16 INFLATION .................................................................................................................................. 17 What is Inflation? ....................................................................................................................... 17 TYPES OF INFLATION ............................................................................................................... 18 Open Inflation ............................................................................................................................ 18 Suppressed Inflation ................................................................................................................... 18 Galloping Inflation ..................................................................................................................... 18 Creeping Inflation ...................................................................................................................... 18 Hyper Inflation ........................................................................................................................... 18 Measures of Inflation ................................................................................................................. 19
Target .......................................................................................................................................... 20 UNEMPLOYMENT ...................................................................................................................... 21 What is Unemployment ............................................................................................................. 21 RELATION BETWEEN IFLATION RATE AND UNEMPLOYMENT ...................................... 23 MONEY SUPPLY ......................................................................................................................... 25 What is Money Supply? ............................................................................................................. 25 RELATION BETWEEN MONEY SUPPLY AND INFLATION RATE ...................................... 26
INTRODUCTION “Canada will be a strong country when Canadians of all provinces feel at home in all parts of the country, and when they feel that all Canada belongs to them” -Pierre Trudeau (Former president of Canada) British Parliament passed the British North America Act in 1867 and on 1 st July, 1867 The Dominion of Canada was officially born. Until 1982, 1 st July was celebrated as ‘DOMINION DAY’. Today it is officially known as Canada day. Canada is a country in the northern part of North America. Its ten provinces and three territories extend from Atlantic to Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometers, making it the world’s second largest country by total area. “OTTAWA” is capital of Canada and it known as 38 th populous country in the world. The economy of Canada is a highly developed market economy. Canada has the third highest total estimated value of natural resources , valued at US$33.2 trillion in 2019. It has the world's third largest proven petroleum reserves and is the fourth largest exporter of petroleum . It is also the fourth largest exporter of natural gas . Canada is considered an " energy superpower " due to its abundant natural resources and a small population of 37 million inhabitants relative to its land area.
GDP What is GDP? GDP (Gross Domestic Product) is the final value of the goods and services produced with the geographic boundaries of a country during a specified period of time, normally a year. GDP growth rate is an important indicator of the economic performance of a country. GDP = Private consumption + Gross Investment + Government Investment + Government Spending + Exports & Imports. GDP is used by economists to determine the health of the economy and whether an economy is growing, as well as measuring the effects of inflation and deflation. GDP growth over consecutive quarters indicates the economy is expanding. If GDP growth and economic growth continue, this could signal to economists that there might be a risk of inflation and policymakers should raise interest should raise interest rates and help to abate those consequences of growth.

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