Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of Canada is defined as the all in a given

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
1. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of Canada is defined as the all 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 2015. 2015 GDP Scenario Included Excluded Awake Cafe, a Canadian coffee company, produces a latte at its location in Brampton on January 14, 2015. It sells the O O latte to a customer immediately. Roadway Motors, a Canadian automobile company, produces a convertible at a plant in Germany on March 27, 2015. O O Roadway Motors imports the convertible into Canada on May 18, 2015. The Jones family buys an antique silver platter at an auction in Vancouver on March 27, 2015. O O Fastlane, a Japanese automobile company, produces a sedan at a plant in Oakville on December 9, 2015. A family buys O O the sedan on December 24. Graincorp, a Canadian agricultural company, produces corn syrup at a plant in Saskatchewan on September 25, 2015. It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in Canada in 2015. (Note: Focus O O exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the cereal on GDP.)1. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of Canada is defined as the all in a given period of time. market value of Based on this definition, indicate which of the following transad wholesale cost of d in (that is, directly increase) the GDP of Canada in 2015. cost of producing 2015 GDP Scenario Included Excluded Awake Cafe, a Canadian coffee company, produces a latte at its location in Brampton on January 14, 2015. It sells the O O latte to a customer immediately. Roadway Motors, a Canadian automobile company, produces a convertible at a plant in Germany on March 27, 2015. O O Roadway Motors imports the convertible into Canada on May 18, 2015. The Jones family buys an antique silver platter at an auction in Vancouver on March 27, 2015. O O Fastlane, a Japanese automobile company, produces a sedan at a plant in Oakville on December 9, 2015. A family buys the sedan on December 24. O O Graincorp, a Canadian agricultural company, produces corn syrup at a plant in Saskatchewan on September 25, 2015. It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in Canada in 2015. (Note: Focus O exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the O cereal on GDP.)1. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of Canada is defined as the all in a given period of time. final goods and services produced transactions will be included in (that is, directly increase) the GDP of Canada in 2015. final goods and services consumed 2015 GDP final and intermediate goods and services produced Included Excluded Awake Cafe, a Canadian coffee company, produces a latte at its location in Brampton on January 14, 2015. It sells the O O latte to a customer immediately. Roadway Motors, a Canadian automobile company, produces a convertible at a plant in Germany on March 27, 2015. O Roadway Motors imports the convertible into Canada on May 18, 2015. The Jones family buys an antique silver platter at an auction in Vancouver on March 27, 2015. O Fastlane, a Japanese automobile company, produces a sedan at a plant in Oakville on December 9, 2015. A family buys the sedan on December 24. O O Graincorp, a Canadian agricultural company, produces corn syrup at a plant in Saskatchewan on September 25, 2015. It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in Canada in 2015. (Note: Focus exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the O O cereal on GDP.)1. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of Canada is defined as the all in a given period of time. by Canadian citizens Based on this definition, indicate which of the following transacti jectly increase) the GDP of Canada in 2015. within Canada 2015 GDP Scenario by Canadian-owned companies Included Excluded Awake Cafe, a Canadian coffee company, produces a latte at its location in Brampton on January 14, 2015. It sells the O O latte to a customer immediately. Roadway Motors, a Canadian automobile company, produces a convertible at a plant in Germany on March 27, 2015. Roadway Motors imports the convertible into Canada on May 18, 2015. O O The Jones family buys an antique silver platter at an auction in Vancouver on March 27, 2015. O O Fastlane, a Japanese automobile company, produces a sedan at a plant in Oakville on December 9, 2015. A family buys the sedan on December 24. O O Graincorp, a Canadian agricultural company, produces corn syrup at a plant in Saskatchewan on September 25, 2015. It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in Canada in 2015. (Note: Focus exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the O cereal on GDP.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bank Management

Authors: Timothy W Koch, Mark S Cracolice

7th Edition

1111804265, 9781111804268

More Books

Students also viewed these Economics questions

Question

be able to adopt a critical perspective in your reading?

Answered: 1 week ago

Question

Modul e 5

Answered: 1 week ago

Question

Explain the importance of Human Resource Management

Answered: 1 week ago

Question

Discuss the scope of Human Resource Management

Answered: 1 week ago

Question

Discuss the different types of leadership

Answered: 1 week ago

Question

Write a note on Organisation manuals

Answered: 1 week ago

Question

3. To retrieve information from memory.

Answered: 1 week ago

Question

2. Value-oriented information and

Answered: 1 week ago

Question

1. Empirical or factual information,

Answered: 1 week ago