When Calculating GDP from the Expenditure Side,"actual Consumption Expenditures" Includes

question 86

Multiple Choice

When calculating GDP from the expenditure side,"actual consumption expenditures" includes

• A)a tractor purchased by an Ontario farmer.
• B)fees paid by Google Canada to a Toronto law firm.
• C)robotic paint equipment purchased by Bombardier.
• D)snow-plow equipment purchased by the City of Montreal.
• E)Canadian fashion designs purchased by a Swiss department store.

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Definitions:

Resource Labor

The work force considered as an economic resource, emphasizing the skills and abilities workers bring to the economy.

Marginal Output

The additional quantity of output that is produced by using one more unit of a particular input, holding all other inputs constant.

Fixed Resources

Assets and resources owned by a business or economy that cannot be easily changed in the short term, such as buildings and land.