Which of the following types of government spending is included in the calculation of GDP?
A. Federal, state, and local government spending for any purpose.
B. Federal spending only.
C. Federal, state, and local spending on transfer payments only.
D. Federal, state, and local government spending on goods and services only.
Answer: D
Economics
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If exports rise and imports fall, then
a. GDP will increase b. GDP will decrease c. GDP may remain unchanged d. net exports will fall e. transfers will rise
Economics
In terms of economic growth, the key measure of the standard of living is
A) real GDP. B) nominal GDP. C) real GDP per capita. D) nominal GDP per capita.
Economics