The Government's Purchases of Goods but Not Its Purchases of Services

question 142

True/False

The government's purchases of goods but not its purchases of services are included in GDP.

Recognize the differences between investing in physical capital and human capital.

Appreciate the conditions necessary for benefiting from technological advances and entrepreneurial ideas.

Evaluate the implications of certain investment decisions on wealth and business valuation.

Understand the role of economic profit in incentivizing investments and innovations.