In the national income accounts, government expenditure on goods and services excludes
A) local government purchases but includes state government purchases.
B) transfer payments.
C) state and local government purchases.
D) spending on national defence.
Correct Answer:
Verified
Q1: The components of the expenditure approach to
Q3: Intermediate goods are excluded from GDP because
A)they
Q4: In Australia, GDP is typically measured
A)daily.
B)weekly.
C)quarterly.
D)monthly.
Q6: Which of the following items is NOT
Q7: The difference between gross investment and net
Q8: In the circular flow model of an
Q9: Real GDP can be criticised as a
Q10: Which of the following expenditures is for
Q11: Consumption expenditure is the payment by households
Q48: The circular flow shows that
A) GDP equals
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