In the equation, GDP = C + I + G + X - M, G refers to
A) federal government expenditures plus all transfer payments.
B) local, state, and federal government spending for all purposes.
C) the taxes and expenditures of all government units.
D) local, state, and federal government expenditure on goods and services, but does not include transfer payments.
D
You might also like to view...
The table above gives data for the nation of Pearl, a small island in the South Pacific. The economy is at full employment when real GDP is
A) $31 billion. B) $34 billion. C) $28 billion. D) $22 billion. E) $25 billion.
If 40 rupees = $1, then one rupee = _____________.
Fill in the blank(s) with the appropriate word(s).
All of the following statements describe a market economy except:
A. Government prescribes the market prices for goods and services B. Prices provide important signals to buyers and sellers C. The allocation of resources is determined by their prices D. The actions of buyers and sellers establish a product's price
According to the above table, Gross Domestic Product is
A. $13,315. B. $13,965. C. $14,140. D. $12,115.