Examlex
Ralph used to mow his lawn,but now he pays a company to do it.How does this change affect GDP?
Governmental Purchases
Expenditures made by the government for goods and services that are used to provide public services.
Domestic Output
The total value of all goods and services produced within a country's borders in a given time period.
Transfer Payments
Payments made by governments to individuals or other entities without requiring a good or service in return, such as welfare or social security payments.
Government Purchases
Expenditures by the government sector on final goods and services in a given period.
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