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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

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

Why does GDP omit the sales of used goods? Of financial transactions? Of government transfer payments?

To determine

Explain the reason why the GDP omits the sales of used goods.

Explanation

The financial transaction and government transfer payments transactions are omitted from the GDP because the transfer of existing resources from one individual to another relative to cre...

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