Question

Sale of second hand goods will not be comprised in the GDP because. ​

Answer 1

Answer: 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.

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Answer 2

Answer:

second hand goods has already included in the gdp when it is purchased for first time

if we will include it in gdp then it will be counted for twice which will give us wrong GDP amount