6. Limitations of GDP Although GDP is a reasonably good measure of a nation's economic wellbeing, it does not necessarily include all factors that contribute to it. Which of the following factors are not accounted for in calculations of the GDP of Canada? Check all that apply. C] Funds spent by provincial governments to build highways C] The costs of oyerfishing and other overly intensive uses of resources Car parts produced in the United States and used in a car manufactured in Canada that are produced in the United States C] C] "he leisure time enjoyed by Canadians C] "he yalue produced when you wash your own car at home Attempts Keep the Highest / 1 3. Categories of expenditures Tim and Alyssa Galego live in Victoria, BC. Alyssa's father, Brian, lives in Sweden. For each of the following transactions, identify whether it is included in the calculation of Canadian GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). Check all that apply. Note: A product's inclusion in one category does not necessarily imply that it is excluded from other categories. Transaction C I G X M The province of British Columbia repaves Highway 17, which goes through the centre of Victoria. 0 O 0 0 O Tim's employer upgrades all of its computer systems using Canadian-made parts. O 0 O O Brian in Sweden orders a bottle of Canadian maple syrup from the producer's website. 0 O Alyssa gets a new video camera made in Canada. 0 0 Tim buys a sweater made in Guatemala. 0 O O 04. Calculating GDP using national income account data The following table shows data on consumption, investment, exports, imports, and government expenditures for a hypothetical country in 2022, as published by the relevant government agency. All Figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Consumption (C) $8,707.13 Investment (1) $211712 Exports ()0 $1,309.4 Imports (M) $2,023.9 Net exports of goods and services (NX) Government purchases (G) $2,363.4 value added at each Stage of production Gross domestic product (GDP) amount spent on final goods and services This method of calculating GDP, which involves summing the V is called the l' V approach