Student Name: Student ID: Section II, 30 marks Each part of a question should be answered in one well-developed paragrap

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Student Name Student Id Section Ii 30 Marks Each Part Of A Question Should Be Answered In One Well Developed Paragrap 1 (331.45 KiB) Viewed 68 times

Student Name: Student ID: Section II, 30 marks Each part of a question should be answered in one well-developed paragraph composed of four to eight sentences. Refer to page 1 for what is expected in the short-answer responses. Question 1 Consider the following transactions that take place in 2021. A rancher in Alberta takes $0 worth of inputs to produce animal skin, which she sells to a tanner in Ontario for $500. ● The tanner produces leather and sells it to a shoemaker in Portugal for $1200. The shoemaker in Portugal produces shoes and sells it to a boutique owner in British Columbia for $2500. ● The boutique owner in British Columbia sells the shoes for $4000 to Canadian consumers. a. What is the change in Canadian GDP as a result of these transactions? For each transaction, explain why it is included or excluded from Canadian GDP. (5 marks)