In 2012,consumers in Saskatchewan Spent $40,851 Million,total Investment Was $18,873

question 83

Essay

In 2012,consumers in Saskatchewan spent $40,851 million,total investment was $18,873 million,changes in inventory were $186 million,government purchase of goods and services was $2,220 million,exports were $39,249 million,and imports were $41,799 million.All figures are in 2007 dollars.
a.Calculate 2012 real GDP (in 2007 dollars).
b.Nominal GDP in 2012 was $77,929.What was the GDP deflator in 2012?
c.In 2011,real GDP was $58,184 million and the GDP deflator was 126.2.What were the growth rate and inflation rate in 2012?
d.Given a total population of 1.11 million,what was per capita GDP in Saskatchewan in 2012?

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Definitions:

Intersection of Events

The set containing all the outcomes that are common to two or more events in probability and statistics.

Union of Events

The set of outcomes that belong to either one event or another in probability, including those that belong to both events.

Sample Space

The set of all possible outcomes in a statistical experiment.

Conditional Probability

The probability of an event occurring, given that another event has already occurred.