Question : Which of the following is not included in the calculation of GDP?
Option 1: Government purchases of goods and services
Option 2: Consumer spending on durable goods
Option 3: Net exports
Option 4: Transfer payments
Correct Answer: Transfer payments
Solution : The correct answer is d) Transfer payments.
Transfer payments, such as welfare benefits, subsidies, or grants, are not included in the calculation of Gross Domestic Product (GDP). Transfer payments are transfers of income from one group to another and do not represent current production or the creation of goods and services.
Question : Which of the following is included in the calculation of GDP?
Option 1: Net exports
Option 2: Government purchases of goods and services
Option 3: Consumer spending on non-durable goods
Option 4: Capital gains
Option 1: Exports
Option 2: Imports
Option 3: Government purchases of goods and services
Option 1: Payments for government transfer programs
Option 3: Income earned by foreign nationals in the country
Option 2: Consumer spending on non-durable goods
Option 1: Intermediate goods
Option 2: Final goods and services
Option 3: Secondhand goods
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