The purpose of this problem is to make you acquainted with Statistics Canada’s website. Open http://www.statcan.gc.ca/start-debut-eng.html and look for “Real gross domestic product, expenditure-based, by province and territory.” Answer the following questions based on this table.
Which three provinces had the greatest real GDP per capita in 2017?
Calculate the shares of each of these provinces in Canada’s real GDP in 2017.
Now, look for another table “Inter-city indexes of price differentials in consumer goods and services.” In which city was the consumer price index the highest in both of the years 2017 and 2018? Can you think of an explanation for that? (3 marks)
Read the article “Are jobs obsolete?” by Douglas Rushkoff, Special to CNN September 7, 2011(http://goo.gl/0aUXL).
What are the main points of the article?
One of the principles of economics is that a country’s standard of living depends on the country’s ability to produce goods and services, while one of the main points of the article suggests that productivity is no longer a goal in the U.S. because the American economy is already able to produce enough for all its people. Does the author’s opinion contradict the economic principle?
Economic theory suggests that technological innovation is an important factor of economic growth. The article, on the other hand, opines that new technologies destroy more jobs than they create. Is this statement true? (Look for extra information that might or might not support this statement.) Does this statement contradict economic theory? (14 marks)
