Which of the Following Items Is NOT Part of Government

question 100

Multiple Choice

Which of the following items is NOT part of government expenditure on goods and services in the GDP accounts?

• A) new computer hardware for use by the IRS
• B) Social Security expenditures
• C) drapes to brighten up the president's office
• D) gasoline purchases for government carpools

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Tax Imposition

The act of placing a financial charge or levy upon a taxpayer by a governmental organization.

Buyers

Individuals or entities that purchase goods or services from sellers in exchange for money or other valuable considerations.

Sellers

Individuals or entities that offer goods or services for sale to potential buyers.