Scenario 4.1 CANOES-R-US Makes Canoes.It Buys the Shell of the Canoe from Canoe

question 255

Multiple Choice

Scenario 4.1
CANOES-R-US makes canoes.It buys the shell of the canoe from another firm for $300 and uses its labour 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 4.1.The value of each canoe in gross domestic product equals

• A)$1,200.
• B)$800.
• C)$500.
• D)$400.
• E)$300.

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Definitions:

Unanimous Written Consent

A document that officially records the agreement of all parties or directors on a decision, without the need for a formal meeting.

Limited Liability Partnership

A business structure that offers its owners limited personal liability for the debts and actions of the partnership, while operating with a flexible management structure.

Statutorily Required Filing

Refers to documents or submissions that must be filed according to law or statute.

Obligations

Duties or responsibilities imposed by law, contract, or conscience that one party owes to another.