Calculate nominal GDP in 2013 and 2014. Calculate real GDP in 2014 in base-year prices. The Uses and Limitations of Real GDP (Study Plan 20.3) Explain in which of the years Canada’s standard of...

Calculate nominal GDP in 2013 and 2014.

Calculate real GDP in 2014 in base-year prices.

The Uses and Limitations of Real GDP (Study Plan 20.3)

Explain in which of the years Canada’s standard

of living (i) increased and (ii) decreased.