Which of the following is not correct?
A)Gross domestic product is both total income in an economy and total expenditures on the economy's output of goods and services.
B)In a closed economy net exports are zero.
C)National saving is the sum of private saving and public saving.
D)Purchases of capital goods are excluded from GDP.

Question

Quizplus · Accepted Answer

Purchases of capital goods, such as machinery and equipment, are included in GDP because they are considered investment spending. Therefore, choice D is not correct as it suggests otherwise.

Which of the Following Is Not Correct