Which of the following types of government spending is included in the calculation of GDP?
A. Federal spending only.
B. Federal, state and local government spending for any purpose.
C. Federal, state and local government spending on goods and services only.
D. Federal, state and local spending on transfer payments only.
Answer:C
Which of the following types of government spending is included in the calculation of GDP?
A. Federal spending only. B. Federal, state and local government spending for any purpose. C. Federal, state and local government spending on goods and services only. D. Federal, state and local spending on transfer payments only.