GMS723: Supplemental Deck #11 Flashcards
What do you need to know about the Canadian Economy and GDP?
The Gross Domestic Product per capita in Canada was last recorded at 45,856.63 US dollars in 2020, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Canada, when adjusted by Purchasing Power Parity is equivalent to 258 percent of the world’s average.
What are Canada’s exports by country with their percentages? (Canada exports to…)
United States - 76%
China - 4.6%
United Kingdom - 2.6%
What are Canada’s exports by Country (goods & services)?
Mineral, fuels, oils, distillation products - 24%
Vehicles other than railway, tramway - 9.1%
Machinery, nuclear reactors, boilers - 6.6%
What are the imports by country (US)?
United States - 49%
China - 14%
Mexico - 5.5%
Germany - 3.2%
What is economic freedom?
The fundamental right of every human to control his or her property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please. In economically free societies, governments allow labour, capital, and goods to move freely and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself.
Debt-to-GDP that exceeds 77% for extended period of time will have:
Slow Economic Growth
What is the Debt-to-GDP ratio?
A metric comparing a country’s public debt to its GDP. It compares what a country owes with what it produces, and indicates the ability to pay back its debts
What if Debt-to-GDP was expressed as a %?
It can be interpreted as the number of years need to pay back its debt
What is Canada’s Debt-to-GDP ratio?
120%
What is the Formula for the Debt-to-GDP ratio?
Debt to GDP = Total Debt of Country/Total GDP of Country
Federal debt due to COVID has:
Increased
Unemployment due to COVID:
Was high in Mid 2021 and has decreased significantly over time
