The U. S. government pays an economist at the U. S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, the government pays him $30,000 in retirement benefits. Which of the following is correct?
a.
The 2006 payment is included in 2006 GDP as government purchases, and the 2007 payment is included in 2007 GDP as government purchases.
b.
The 2006 payment is included in 2006 GDP as government purchases, and the 2007 payment is included in 2007 GDP as government transfer payments.
c.
The 2006 payment is included in 2006 GDP as government purchases, and the 2007 payment is allocated to previous years' GDP according to the amount of work performed by the economist each year.
d.
The 2006 payment is included in 2006 GDP as government purchases, but the 2007 payment is not included in 2007 GDP.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The U. S. government pays an economist at the U. S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The opportunity cost of money holdings is: A. The reduction in purchasing power brought on by deflation. B. The alternative interest income foregone from not holding some other asset. C. The liquidity foregone from not holding some other asset. D.
Answers (1)
Kinsey has a plan to save $60 a month for 16 months so that she can purchase a new television. After 11 months Kinsey has saved $600. If the most that Kinsey can possibly save is $80 per month, which of the following statements is true? a.
Answers (1)
If a monopolistic competitor is able to restrict output, why doesn't it earn economic profits?
Answers (1)
Stacey wants to teach third graders in a public school. She just finished her bachelor's degree in education.
Answers (1)
Sam placed a limit order to sell 500 shares of stock at $14 a share. Which of the following does Sam know for sure? His order will execute but the time of execution is unknown. His order may never execute.
Answers (1)
New Questions in Business
Odell's Furniture has a manufacturing facility in Rigby, Idaho that has an effective capacity of 106 furniture pieces per day and produces 88 furniture pieces per day. What is the facility's efficiency rate? a. Write your answer as a percentage. b.
Answers (1)
Benefits are offered by employers to attract good employees. a. True b. False
Answers (1)
Which of the following is not true regarding economic exposure? a. The impact of a change in the local currency on inflow and outflow variables can sometimes be indirect and therefore different from what is expected. b.
Answers (1)
A furniture store buys 100 footstools from a distributor at a cost of $230 each plus an overhead charge of $50 per order. The retail markup is 25% on the total price paid. Find the profit on the sale of one footstool.
Answers (1)
The University Golf Shop desires to make $10,000 in pretax profits. If the contribution margin ratio (CMR) is 50% and the fixed costs are $110,000, what is the required level of sales
Answers (1)