|Question||In a recent issue of the Canadian Economic Observer, Statistical Summary, find the data section entitled “National Accounts.” In Table 1, “Gross Domestic Product,” find data on gross domestic product (a measure of total output), exports, and imports. In Table 3, “Government Revenue and Expenditure,” find data on the federal government’s total revenue (taxes) and expenditures.
a. Calculate the ratio of exports to GDP, the ratio of imports to GDP, and the ratio of the trade imbalance to GDP in the latest reported quarter. Compare the answers with the values reported for the previous two complete years,
b. Calculate the ratio of federal government revenue to GDP, the ratio of federal government expenditures to GDP, and the ratio of the budget deficit to GDP, for the most recent quarter and for the previous two complete years.