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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What is the difference between government expenditures and government purchases?

To determine

Identify the difference between the government expenditure and government purchase.

Explanation

The government expenditure is the broader definition of government spending, and the government purchase is the narrow definition of the government spending. In the accounting of government expenditure, it indicates the sum total of government purchases plus the transfer payments of the government, whereas the government purchases do not include the transfer payments in its calculation. 

Concept

Government spending: Government spending is the amount of money used by the government for funding its programs and operations.

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