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Macroeconomics Canadian 7th Edition Abel Test Bank
Macroeconomics Canadian 7th Edition Abel Test Bank
Macroeconomics Canadian 7th Edition Abel Test Bank
https://testbankfan.com/download/macroeconomics-canadian-7th-edition-abel-test-ba
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Macroeconomics, 7Ce
Chapter 2: The Measurement and Structure of the Canadian Economy
5) The A company collects bushels of wild berries, which it sells for $2 million to the B
company to be made into jam. The B company's wild berry jam is sold for a total of $6 million.
What is the total contribution to the country's GDP from companies A and B?
A) $2 million
B) $4 million
C) $6 million
D) $8 million
Answer: C
Diff: 1 Type: MC Page Ref: 18
6) The A company collects bushels of wild berries, which it sells for $2 million to the B
company to be made into jam. The B company's wild berry jam is sold for a total of $6 million.
What is the value added of company B?
A) $2 million
B) $4 million
C) $6 million
D) $8 million
Answer: B
Diff: 1 Type: MC Page Ref: 18
7) The Compagnie Naturelie sells mounted butterflies, using butterfly bait it buys from another
firm for $20 thousand. It pays its workers $35 thousand, pays $1 thousand in taxes, and has
profits of $3 thousand. What is its value added?
A) $3 thousand
B) $19 thousand
C) $39 thousand
D) $59 thousand
Answer: C
Diff: 2 Type: MC Page Ref: 19
14) Countries A and B have the same GDP. In country A, people eat often in restaurants, but in
country B people eat more often at home. Therefore
A) economic activities are underestimated in country A.
B) economic activities are overestimated in country B.
C) GDP represents accurate measure of economic activities in both countries.
D) GDP is underestimated in country B.
Answer: D
Diff: 2 Type: MC Page Ref: 21
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