Which of the Following Would Be Excluded from the GDP

question 5

Multiple Choice

Which of the following would be excluded from the GDP of Canada?

• A) A Canadian company produces and sells products in Brazil.
• B) A U.S. company produces and sells products in Canada.
• C) A Canadian company produces and sells products in Canada.
• D) A Brazilian company produces and sells products in Canada.
• E) It is not possible to tell given the information that is provided.

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Definitions:

MRC

The Marginal Resource Cost, which is the additional cost incurred by producing one more unit of a good or service.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell.

Purely Competitive

Characterizes a market structure where many firms sell identical products, entry and exit are easy, and no single firm can influence the market price.

Labor Market

The marketplace in which individuals offer their labor for employment and employers seek to fill positions with the most suitable candidates.