Honda Canada produced $100 million worth of cars in 2016 from $20 million in parts from...
Honda Canada produced $100 million worth of cars in 2016 from $20 million in parts from the United States and $10 million in parts produced in Ontario in 2015. It sold $95 million worth of these cars in 2016 and $5 million in 2017. What was Honda’s 2016 contribution to Canadian GDP? (3) a)$100 million b)$95 million c)$90 million d)$80 million e)$70 million
Homework Answers
Correct option: $100 million
Reason: GDP is calculated as the final value of all goods and services produced in a given financial year in the economy.
In the given case, in 2016, Honda Canada produced cars worth $100 million
This means Honda Canada contributed $100 million to the entire GDP of Canada (as this is the final value of goods produced by Honda Canada in 2016)
Add Answer to:
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