Which of the following transactions would be considered part of Canadian GDP (Gross Domestic Product) measurements?...

Which of the following transactions would be considered part of Canadian GDP (Gross Domestic Product) measurements?

Please explain your answer in each case... ( 2 marks each )

(a) Ford Canada purchases Canadian-Made tires for use on its cars

(b) A Chinese firm produces food products in Canada that are purchased by restaurants

(c) ABC, a Canadian firm, produces clothing in Bangladesh.

(d) Due to Covid-19, Canadian firms store goods in inventory due to low sales

Expert Solution

Answer option

(a) Ford Canada purchases Canadian-Made tires for use on its cars

(b) A Chinese firm produces food products in Canada that are purchased by restaurants

Both are included in Canada GDP.

Gross domedtic production is market value of goods and services produced with in domestic territory of nation by the residents and non resident during an accounting year.

Rahul Sunny answered 2 years ago

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