About transfer payments with regard to computing GDP

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Reference no: EM13741104

Which of the following statements are true about transfer payments with regard to computing GDP? Check all that apply.

Transfer payments alter household income, but they do not reflect the economy’s production.

Transfer payments are not accounted for in the consumption component of GDP.

Transfer payments are accounted for in the investment component of GDP.

Social security is an example of a transfer payment and is not included in GDP.

Reference no: EM13741104

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