10. In calculating GDP, only the value of final goods and services is counted by what Intermediate goods are imported from abroad. By limiting themselves to final goods and services, they avoid double counting. including intermediate goods and services would lead to an underestimation of GDP. The value of final goods and services is not affected by the depreciation of capital. 5. Final goods and services can be exported to other countries. Answer: 11. In the income and expenditure accounts of the Canadian System of National Accounts, the purchase of new real estate by households is included in the item a. of consumer and investment spending. . of capital expenditure (gross fixed capital formation) only if homeowners take out a mortgage. consumer spending only if homeowners do not take out a mortgage. . consumer spending. of capital expenditure (gross fixed capital formation). Answer: 12. Which of the following increases Canada's GDP? 3.. The ice cream I buy at the local grocery store. b. The production and sale of flour to a bakery. c. I shovel the sidewalk in front of my house. d. The purchase of a CD produced in |China. e. I sell my old car to my neighbour. Answer: 13. In order to verify the claim that more goods and services were produced in the economy in 2017 than in 2018, what should you look at? real GDP 3.. b. nominal GDP 0. GDP calculated according to the income approach d. intermediate GDP