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If the Canadian government pays a retired economist at the Ministry of Finance $30 000 in
retirement benefits in 2011, how is the payment treated? Select one:
a. It is included in 2011 GDP as transfer payments.
b. It is included in 2011 GDP as government purchases.
c. It is not included in 2011 GDP because it is part of government purchases.
d. It is not included in 2011 GDP because it is a transfer payment.

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If the Canadian government pays a retired economist at the M.pdf

  • 1. If the Canadian government pays a retired economist at the Ministry of Finance $30 000 in retirement benefits in 2011, how is the payment treated? Select one: a. It is included in 2011 GDP as transfer payments. b. It is included in 2011 GDP as government purchases. c. It is not included in 2011 GDP because it is part of government purchases. d. It is not included in 2011 GDP because it is a transfer payment.