Multiple Choice
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.
Correct Answer:
Verified
Correct Answer:
Verified
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