Question:

Included, or excluded, from GDP?

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are these either included, or excluded, from GDP? Explain briefly.

- The purchase of a used tractor by a farmer.

- An increase in goods stored at a company’s warehouse.

- Government purchases of missiles.

- Social security checks received by a retired person.

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2 ANSWERS


  1. the first and the last should not be included in GDP.


  2. Following are not included in GDP:

    - The purchase of a used tractor by a farmer.

    - Social security checks received by a retired person.

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