In the Computation of GDP,social Security Payments Count as

question 240

Multiple Choice

In the computation of GDP,social security payments count as

• A) transfer payments and are included in GDP.
• B) transfer payments and are not included in GDP.
• C) government expenditure on goods and services and are included in GDP.
• D) government expenditure on goods and services and are not included in GDP.

---

Definitions:

Entrepreneurial Ability

Entrepreneurial ability involves the skills and qualities that enable an individual to identify opportunities, take risks, and organize resources effectively to start and manage a business.

Sole Proprietorship

A business owned and managed by a single individual, with personal responsibility for all debts and legal actions.

Transaction Costs

The costs of time and information required to carry out market exchange.

Personal Assets

Items of value owned by an individual, including cash, bank accounts, investments, real estate, and personal property.