Executive Summary – Federal Government Finances: Questions and Answers

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Understanding economic statistics and federal government finances can be complex. Through 23 questions and answers, this HillStudy explores key economic and financial concepts, including

  • production: gross domestic product (GDP);
  • inflation: consumer price index;
  • nominal and real GDP;
  • raw and seasonally adjusted data;
  • accrual and cash-based accounting;
  • financial and calendar year;
  • income distribution and poverty;
  • government accounts;
  • government revenues and expenditures, by category;
  • public service workforce;
  • budgetary balance;
  • financial and non-financial assets and liabilities; and
  • government debt and accumulated deficit.

Each answer defines a concept, illustrates it with a figure or a table featuring the latest related data available for Canada, and provides a historical and sometimes international perspective.

This document consists of 23 questions and answers intended to provide a better understanding of economic statistics and federal government finances.

Read the full text of the HillStudy: Federal Government Finances: Questions and Answers

Authors: Sirina Kerim-Dikeni and André Léonard, Library of Parliament

Categories: Economics and finance, Executive summary, Government, Parliament and politics

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