Which of the following statements is FALSE?
A) Gross Domestic Product (GDP) measures the market value of final goods and services produced during a particular time period.
B) Transfers of used goods are not included in Gross Domestic Product (GDP).
C) Private transfer payments, such as an inheritance, are included in the Gross Domestic Product (GDP).
D) If statisticians counted intermediate goods, the estimate of Gross Domestic Product (GDP) would be too high.

Question

Quizplus · Accepted Answer

Private transfer payments, such as an inheritance, are not included in the Gross Domestic Product (GDP). The other three statements are true.

Which of the Following Statements Is FALSE