In national income accounting, government purchases include:purchases by the Federal government only.purchases by Federal, state, and local governments .government transfer payments.O purchases of goods for consumption, but not public capital goods.

Government purchase includes government spending on goods and services, by federal, state and local…

In national income accounting, government purchases include: purchases by the Federal government only. O purchases by Federal, state, and local governments. O government transfer payments. O purchases of goods for consumption, but not public capital goods.

In national income accounting, government purchases include: purchases by the Federal government only. O purchases by Federal, state, and local governments. O government transfer payments. O purchases of goods for consumption, but not public capital goods.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter12: Federal Budgets And Public Policy

Section: Chapter Questions

Problem 3.6P

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Question

In national income accounting, government purchases include:
purchases by the Federal government only.
purchases by Federal, state, and local governments .
government transfer payments.
O purchases of goods for consumption, but not public capital goods.

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(a) Explain the difference between government spending and the government Purchases of goods and services . Which is larger? (b) Explain why national income and gross domestic product would be essentially equal if there were no deprecation.
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