Multiple Choice
With respect to GDP, how are transfer payments treated?
A) They are included in GDP because they represent income to individuals.
B) They are not included in GDP because they are not payments for currently produced goods or services.
C) They are included in GDP because the income will be spent for consumption.
D) They are not included in GDP because taxes will have to be raised to pay for them.
Correct Answer:
Verified
Correct Answer:
Verified
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