1. A Toronto shoe manufacturer makes $250,000 in shoes from $100,000 in leather produced this year on an Alberta ranch, $50,000 in glue from a New York company, and $60,000 in nails produced last year by an Ontario steel mill. The shoe manufacturer sells $23,000 of these shoes this year. The contribution to Canadian GDP this year is

1. A Toronto shoe manufacturer makes $250,000 in shoes from $100,000 in leather produced this year on an Alberta ranch, $50,000 in glue from a New York company, and $60,000 in nails produced last year by an Ontario steel mill. The shoe manufacturer sells $23,000 of these shoes this year. The contribution to Canadian GDP this year is

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Measuring A Nation's Income

Section: Chapter Questions

Problem 2CQQ

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