Question

Please provide process and calculation

Canada Goose parkas are produced in Canada. The price on the Canada Goose parka is $1100. You bought it here in Toronto which means you also paid 13% of the purchase price in HST (paid by you to the retailer who transmits it to the government). If each parka requires $200 in imports, what is the contribution of the parka to Canada's GDP? Round to two decimal places. Do not enter the currency symbol, and enter the negative sign if appropriate.

Answer 1

Solution: $1017

Working:

Price	1100
Add: Harmonized sales tax @ 13%	143
Minus: Imports (200 + 13%)	-226
Contribution to GDP	1017