ECON 2000 Chapter : ECON2000-CH2.docx

• School: York University
• Department: Economics
• Course: ECON 2000
• Professor: Mokhles Hossain

Document Summary

Statistics canada computes this: (1) every 3 months, (2) from a large number of primary data sources that include both administrative and statistical data: administrative data: byproducts of government functions, i. e. tax collection, educational programs and regulation, statistical data: come from government surveys of, for example, retail establishments, manufacturing firms and farm activity. If if were the case that (1) no canadian worker had a job in another country, (2) no foreigner had a job in canada, and (3) all machines and factories used both here and elsewhere were owned by domestic residents then this value of goods produced would also measure the total value of canadians" incomes: gdp is actually the total income earned domestically it includes income earned domestically by foreigners, but it doesn"t include income earned by domestic residents on foreign grounds, the total income earned by canadians includes the income that we earn abroad but it doesn"t include the income earned within our country by foreigners.