Social Security Payments Are

question 27

Multiple Choice

Social Security payments are

• A)included in GDP because they represent current income.
• B)included in GDP because they represent potential consumption.
• C)excluded from GDP because they are not private pensions.
• D)excluded from GDP because they do not reflect the economy's production.

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Definitions:

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MasterCard

A global financial services corporation that processes payments between banks of merchants and the card issuing banks for purchases made with credit and debit cards.

VISA

A global payment technology company that facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards and debit cards.

Multiple-Step Income Statement

A form of income statement that contains several sections, subsections, and subtotals.