Scenario 8-1 CANOES-R-US Makes Canoes.It Buys the Shell of the Canoe from Canoe

question 139

Multiple Choice

Scenario 8-1
CANOES-R-US makes canoes.It buys the shell of the canoe from another local firm for $300 and uses its labor and intermediate goods to make the canoe.It sells the finished canoe to a retail canoe store for $800.The retail canoe store then sells the canoe to a consumer for $1,200.
-Refer to Scenario 8-1.The value of each canoe in gross domestic product equals

• A)$1,200.
• B)$800.
• C)$500.
• D)$400.

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Definitions:

Policy, Economics

The study and analysis of how economic theories and principles influence and are applied to public policy, including the impact of government actions on economic performance.

Meaningful Involvement

Participation that is not only active but also has significance and influence on the outcome of processes or decisions in which one is involved.

NIMBY

Short for “not in my back yard”; originally referred to protests aimed at shifting undesirable activities onto those with less power; now sometimes used without negative connotations to describe local environmental activists.

Nuclear Waste

Radioactive byproducts resulting from the operation of nuclear reactors, research, and medical procedures, requiring careful disposal to avoid environmental harm.