Essay
David lives in Canada. He operates a pizza business in his native town. Robert is Canadian, but he works in the United States. On a typical day, David makes $275 in sales, of which he pays to the government $25 in sales taxes. Robert makes $150 in wages, of which he pays the US government $15 in income taxes. There are no other costs or taxes. Based on this information, compute David and Robert's contribution to the following measures of income:
a.Canadian GDP
b.Canadian GNP
c.US GDP
d.US GNP
Correct Answer:
Verified
We can use the income-based definition o...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q26: A movie company makes 500 000 DVDs
Q27: Which of the following best defines the
Q28: The local Chevrolet dealership has an increase
Q29: In a given year, an economy has
Q31: If Robert works as a lawyer, how
Q32: In a simple circular-flow diagram, how are
Q33: Which of the following is included in
Q34: According to international studies, larger GDP per
Q35: If a Canadian citizen buys a television
Q66: With respect to GDP, how are welfare