Question

is not correct regarding GDP estimation
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Answer 1

The sales of used goods are not included because they were produced in a previous year and are part of that year's GDP. Transfer payments are payments by the government to individuals, such as Social Security. Transfers are not included in GDP, because they do not represent production.

Answer 2

Explanation:

• Transfers are not included in GDP, because they do not represent production.

• The sales of used goods are not included because they were produced in a previous year and are part of that year's GDP