Developing A Country's Economic Data

-The nation’s GDP is a good measure of its economic well being and progress because it represents the total value of all goods and services produced in an economy, and what a country produces and what it consumes are nearly identical.

-This is because a group of recent immigrants had not done much to Canadas economy

Since most of the immigrants are skilled, Canada is able to rely on them and employ them for their most important jobs throughout the labor market, which is helping the economy grow constantly.

The value of the Canadian dollar demonstrates how well the Canadian economy is doing compared to other countries. Likewise, in chapter three of Dinner Party Economics it is states that “money measures the standard of living” (19). The Canadian dollar either increases or decreases in value depending on the amount of goods and services purchased. Currently the Canadian dollar has dropped, which demonstrates how the Canadian government is doing a poor job improving the economy. The value of the Canadian dollar dropping causes inflation to occur, making too many Canadians save their money opposed to spending it. In chapter six it mentions that inflation is the real enemy of money (62). Therefore, in order to decrease inflation, spending money is essential. If Canadians do not spend their money, the increase of prices on goods and services will cause unemployment

The performance of economies can be measured in many different ways and is measured by many people and institutions. Economies can be rated as performing well or poorly based on the macroeconomic and monetary policies, who is in charge, what the rest of the world is doing and so on. “Macroeconomics is about many different markets interacting with each other as a whole” (DPE 4). Ontario is an example of an economy that has many macroeconomic markets that are always interacting with each other. Many people have different thoughts of how well an economy is performing based on what macroeconomic markets they are looking at or what they are comparing these markets to. The Ontario government is doing well in some aspects of the economy but not

The Department of Finance Canada (2009) developed the plan to tackle five main points in regards to the economy and they are as follows. Their first element was action to stimulate spending: this was achieved by providing $8.3 billion into trades and other skills in an effort to help Canadians develop and attain in demand skills that would benefit even further into the future. Secondly $7.8 billion was injected into the home construction sector; this was done to promote growth of jobs in the construction industry and provide more high quality homes for Canadians. The Departments third element, and one of the most “visible” Action Plan elements was the goal of developing, expanding and upgrading our infrastructure through the stimulus of $12 billion. Relief was allotted as well for some of Canada’s biggest sectors: the auto, forestry and manufacturing industries received special funding of $7.5 billion to help them and the communities these industries are in. And the final element the Department of Finance noted was an effort to spend to continuously improve Canada’s financial system and improve Canadian citizens access to such

The service industry in Canada account for more than 70% of their GDP. Manufacturing in Canada accounts for 13%, 6% construction and mining & gas is 4%. Agriculture, forestry, fishing and hunting account for 2% of their GDP. Calgary is the top performing metro economy in Canada whose GDP per capita rose 3.1% from 2013-2014 and their employment rose 2.7%. The GDP for Canada shrank 0.1% the first three months of the year; their GDP was .06% in the first

In the middle of the 20th-century, two countries saw (at least virtual) independence from British monarchy. On the surface, these countries could be one in the same: both had a troubled history of colonization by foreign nations, both have a wealth of natural resources, both are geographically isolated, and both have strong regional ties that could divide the country. Canada and India were both launched into the international world on their own at the same time, but fast-forwarding to today, these countries have taken two different paths from their sovereignty. This divergence between the two nations can be attributed to one defining historical characteristic for Canada: Canada is a relatively young nation built on the back of mostly Frenchmen,

Economic Factors: By analyzing the economic factors we can see that Nova Scotia’s economic growth was last among the Canadian provinces over the last two decades when measured as the total percentage increase of gross domestic product (GDP).

One of the other many things that can prove the forward progress of our country is the GDP. GDP stands for Gross Domestic Product and it is the the monetary value of all the finished goods and services produced within a country's borders in a specific time period. The GDP can do a number of things for a country and it also tells a story from it. You can find out how healthy an economy is, how productive a country is, and the stand of living for said county.

The Heritage Foundation has ranked Canada as the 7th freest economy in the world. Something that makes a Traditional economy unique is family or tribal units produce most of their own goods, and consumes what they produce. This economy is usually based of tradition and their culture. Canada is currently an open-market system which has no barriers to free market activity. Canada growth of manufacturing, mining, and service sectors has helped them stay the traditional economy they are to this day. Having relatively flexible labor regulations improves employment growth in northern Canada.

     Over the past few years, Canada's economy has done comparatively well and has demonstrated some resilience to the fluctuating global economy. However, Canada remains to be relatively less competitive with respect to other developed countries. In this paper I will attempt to take a closer look at Canada's position in the global economy today and examine the relevant issues.

First we need to define what is GDP and how is it measured. According to Chan (2013) GDP is a measure of the output of all final goods and services produced in the United States of America in a given year. Now, GDP can be measured in two ways: by adding

Another big thing in Canada is NAFTA. Nafta is a trilateral trade bloc between the U.S. and Canada and Mexico. Sadly, its reduced U.S. Jobs but it ships products

The current political condition of Canada is much more stable than a decade back. Moreover, this international relationship with the other countries like China, USA is very much in advanced position. These altogether created an investment friendly atmosphere in Canada. The industry output has increased from -1.9% to 3% in January 2014 (Tradingeconomics.com, 2014).