{"id":68,"date":"2024-07-24T03:05:58","date_gmt":"2024-07-24T07:05:58","guid":{"rendered":"https:\/\/pressbooks.bccampus.ca\/econ104\/?post_type=chapter&p=68"},"modified":"2024-10-17T15:16:46","modified_gmt":"2024-10-17T19:16:46","slug":"2-3-exercises","status":"publish","type":"chapter","link":"https:\/\/pressbooks.bccampus.ca\/econ104\/chapter\/2-3-exercises\/","title":{"raw":"2.3 Exercises","rendered":"2.3 Exercises"},"content":{"raw":"Read the articles and answer the questions.\r\n
\r\n

Exercise 1: How much would you pay to use Google?<\/h3>\r\n<\/header>\r\n
\r\n\r\nRead \"How much would you pay to keep using Google?\"<\/a> The Economist. 2018.<\/em>\r\n
    \r\n \t
  1. What services from Google are counted\/not counted towards GDP?<\/li>\r\n \t
  2. Should these services be counted given the purpose of calculating GDP?<\/li>\r\n \t
  3. Are all countries equally affected by this problem? (Advanced)<\/li>\r\n<\/ol>\r\n \r\n\r\n<\/div>\r\n<\/div>\r\n
    \r\n

    Exercise 2: Real GDP by expenditure<\/h3>\r\n<\/header>\r\n
    \r\n\r\nRead Statistics Canada's most recent Quarterly Canadian GDP report.<\/a> (To find the most recent report, go to the Statistics Canada<\/a> homepage and click Real GDP by expenditure<\/a>.)<\/span>\r\n
      \r\n \t
    1. What the purpose of the report?<\/span><\/span><\/li>\r\n \t
    2. What components of the expenditure-based GDP are discussed? Why is it important to discuss them? (Think about the purpose of the report.)<\/span><\/span>\u00a0<\/span><\/li>\r\n \t
    3. Based on the report, what conclusion can you draw about the Canadian economy?<\/span><\/span><\/li>\r\n<\/ol>\r\n<\/div>\r\n<\/div>\r\n
      \r\n

      Exercise 3: What does GDP tell us about the economy?<\/h3>\r\n<\/header>\r\n
      \r\n\r\nRead \"What GDP can and cannot tell you about the post-pandemic economy,\"<\/a> The Economist<\/em>, 2020.\r\n
        \r\n \t
      1. What was a \"normal\" GDP growth rate for the US or Canada before the pandemic?<\/li>\r\n \t
      2. How should we understand the statement \"US Q3 GDP grew at 33.1%\"? Is it that the value produced in Q3 was 33.1% larger than that in Q2? If not, how large was the Q3 number compared to Q2 number? (Tip<\/em>: You can find the answer in the Economist <\/em>article.)<\/li>\r\n \t
      3. How does the Q3 GDP data compare to the 2019 level? How does it compare to people's expectations in 2019?<\/span><\/span>\u00a0<\/span><\/li>\r\n<\/ol>\r\n<\/div>\r\n<\/div>\r\n ","rendered":"

        Read the articles and answer the questions.<\/p>\n

        \n
        \n

        Exercise 1: How much would you pay to use Google?<\/h3>\n<\/header>\n
        \n

        Read “How much would you pay to keep using Google?”<\/a> The Economist. 2018.<\/em><\/p>\n

          \n
        1. What services from Google are counted\/not counted towards GDP?<\/li>\n
        2. Should these services be counted given the purpose of calculating GDP?<\/li>\n
        3. Are all countries equally affected by this problem? (Advanced)<\/li>\n<\/ol>\n

           <\/p>\n<\/div>\n<\/div>\n

          \n
          \n

          Exercise 2: Real GDP by expenditure<\/h3>\n<\/header>\n
          \n

          Read Statistics Canada’s most recent Quarterly Canadian GDP report.<\/a> (To find the most recent report, go to the Statistics Canada<\/a> homepage and click Real GDP by expenditure<\/a>.)<\/span><\/p>\n

            \n
          1. What the purpose of the report?<\/span><\/span><\/li>\n
          2. What components of the expenditure-based GDP are discussed? Why is it important to discuss them? (Think about the purpose of the report.)<\/span><\/span>\u00a0<\/span><\/li>\n
          3. Based on the report, what conclusion can you draw about the Canadian economy?<\/span><\/span><\/li>\n<\/ol>\n<\/div>\n<\/div>\n
            \n
            \n

            Exercise 3: What does GDP tell us about the economy?<\/h3>\n<\/header>\n
            \n

            Read “What GDP can and cannot tell you about the post-pandemic economy,”<\/a> The Economist<\/em>, 2020.<\/p>\n

              \n
            1. What was a “normal” GDP growth rate for the US or Canada before the pandemic?<\/li>\n
            2. How should we understand the statement “US Q3 GDP grew at 33.1%”? Is it that the value produced in Q3 was 33.1% larger than that in Q2? If not, how large was the Q3 number compared to Q2 number? (Tip<\/em>: You can find the answer in the Economist <\/em>article.)<\/li>\n
            3. How does the Q3 GDP data compare to the 2019 level? How does it compare to people’s expectations in 2019?<\/span><\/span>\u00a0<\/span><\/li>\n<\/ol>\n<\/div>\n<\/div>\n

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