Government purchases are defined as
A) only goods purchased by federal, state, or local governments.
B) all goods and services purchased by the federal government.
C) all goods and services purchased by the federal or state government.
D) all goods and services purchased by the federal, state, or local government.
E) goods and services purchased from the government.
Question 2
Movement of the fast-growing Asian nations through the demographic transition may have had an impact on growth rates because it
A) reduced expenditures on health care.
B) reduced expenditures on pensions.
C) increased savings.
D) increased consumption relative to GDP.
E) increased the number of retired people.
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