Purchases of Goods and Services Are Included in GDP, but Transfer

question 114

True/False

Purchases of goods and services are included in GDP, but transfer payments are not included.

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Definitions:

Sustainable

The quality of not being harmful to the environment or depleting natural resources, and thereby supporting long-term ecological balance.

Benefit

Part of an employee’s compensation in addition to wages and salaries.

Competitive Advantage

The attribute that allows an organization to outperform its competition, achieved through offering higher value to consumers or producing goods or services at a lower cost.

Relative

An item or factor considered in relation or in proportion to something else.