For the Purposes of Calculating GDP Using the Expenditure Approach

question 64

Multiple Choice

For the purposes of calculating GDP using the expenditure approach, which of the following is not included in the government purchases account?

• A)Government purchases of pencils
• B)The payroll of the federal government
• C)Welfare payments to the poor
• D)The government's purchase of a computer

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Definitions:

Action For Damages

A legal proceeding initiated to seek compensation for harm or loss suffered due to another's negligence or wrongful act.

Market Prices

The current prices at which goods and services can be bought or sold in a marketplace.

Reasonable Grounds

Justifiable reasons based on facts or evidence that would lead a reasonable person to a certain conclusion.

Assurance Of Performance

A guarantee that a party will fulfill their obligations within a contract.