Answered: Social Security payments

Business

Economics

Social Security payments

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 12SQ

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Question

Social Security payments are

a. included in GDP because they represent potential consumption.

b. excluded from GDP because they do not reflect the economy's production.

c. excluded from GDP because they are not private pensions.

d. included in GDP because they represent current income.

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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