In calculating GDP, "transfer payments" are
A) included because they are re-valuations of existing wealth.
B) excluded because no goods or services were produced in exchange for them.
C) included because they are payments for labor services.
D) excluded because used goods already counted the year they were produced.
B
Economics
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The federal reserve bank's board of governors consists of __ members appointed by the president of the US to 14 year, nonrenewable terms
A. 8 B. 7 C. 6
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If people can benefit from a good even if they do not pay for it, the good is nonrival
Indicate whether the statement is true or false
Economics