How Is the GDP for Canada Defined

question 126

Multiple Choice

How is the GDP for Canada defined?

• A)It is the value of all final goods and services produced in Canada in a given year.
• B)It is the value of all goods and services produced by Canadians in a given year.
• C)It is the value of all economic resources used in the production of a year's output.
• D)It is the value of all goods and services,final and intermediate,produced in Canada in a given year.

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Definitions:

Merchandise Inventory

The total cost of all the goods held by a company for resale purposes, including goods in transit, on order, and in stock.

Net Income

Net income is the total earnings or profit a company makes after deducting all its expenses, including taxes, interests, and depreciation.