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1 . Activities included ( and not included ) in the calculation ofGDP The gross domestic product ( GDP ) of Canada is defined as
Activities included and not included in the calculation ofGDP
The gross domestic product GDP of Canada is defined as themarket value of allfinal goods and services produced within Canada in a given period of time.
Based on this definition, indicate which of the following transactions will be included in that is directly increase the GDP of Canada in
Scenario
GDP
Included
Excluded
Athleticus, a Canadian shoe company, produces a pair of sneakers at a plant in Vietnam on March Athleticus imports the pair of sneakers into Canada on May
Tasty's, a Canadian fastfood company, produces a hamburger at one of its many Halifax locations on January It sells the hamburger to a customer that same day.
The Jones family buys an antique silver platter at an auction in Vancouver on March
Fastlane, a Japanese automobile company, produces a sedan at a plant in Oakville on December A family buys the sedan on December
Graincorp, a Canadian agricultural company, produces corn syrup at a plant in Saskatchewan on September It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in Canada in Note: Focus exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the cereal on GDP
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