Which event increases Canada's nominal GDP?
A) Andreas steals $200 worth of cosmetics from Shopper's Drug Mart.
B) The Middletons sell a Nova Scotia cottage that has been in the family for six generations.
C) Brad buys $240 of crack cocaine from Smokie Joe.
D) Ian buys a 2009 Honda Civic for $3,000.
E) A millionaire from Michigan buys $400 of fresh Ontario blueberries while on vacation in Canada.

Question

Quizplus · Accepted Answer

Nominal GDP measures the value of all goods and services produced within a country's borders in current prices. The purchase of fresh Ontario blueberries by a tourist contributes to Canada's GDP as it is a transaction involving a new product within the country. The other options involve illegal activities, second-hand sales, or theft, which do not contribute to GDP.

Which Event Increases Canada's Nominal GDP