What is impact of such exclusion on the economic welfare

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The government purchases component of GDP does not include spending on transfer payments such as Social Security. GDP does not also include the value of used goods that are resold. Do you think such exclusion make GDP a less informative measure of economic well-being? What other production of goods and services do you think are excluded from the GDP? What is the impact of such exclusion on the economic welfare?

Reference no: EM13831494

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