uiz/attempt.php?at... 53 Question 21 Scenario 4.1 Not yet CANOES-R-US makes canoes. It buys the shell of the canoe from another firm answered for $300 and uses its labour and intermediate goods to make the canoe. It sells Marked out of the finished canoe to a retail canoe store for $800. The retail canoe store then 1.00 sells the canoe to a consumer for $1,200. Flag question Refer to Scenario 4. 1. The value added of CANOES-R-US for each canoe equals O a. $300. O b. $1,200. O c. $400. O d. $500. O e. $800. Question 22 Suppose, in 2020, you purchased a house built in 2010. Which of the following Not yet would be included in the gross domestic product for 2020? answered Marked out of O a. the value of the house in 2020 minus depreciation 1.00 O b. the value of the house in 2010 Flag question O c. the value of the services of the real estate agent O d. the value of the house in 2020 O e. the value of the down payment you made on the mortgage Question 23 Table 4.12 Not yet Nominal answered Year GDP Real GDP Marked out of 2016 $7,400 $7,537 1.00 2017 7,813 7,813 Flag question 2018 8,301 8,165 2019 8,760 8,516 Refer to Table 4.12. Consider the data shown above on nominal GDP and real GDP (values are in billions of dollars). The base year used in calculating real GDP is O a. 2018. O b. 2019. O c. 2017. O d. 2016. O e. 2012. 24