Click on prices if you want to find the one month

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Unformatted text preview: the current civilian labor force, number of persons unemployed, and unemployment rate. Click on “Prices” if you want to find the one-month change in the CPI. If you want to find the most current GDP figures, go to the Bureau of Economic Analysis at www.emcp.net/GDPfigures and click on “Frequently Requested NIPA Tables” and then “Gross Domestic Product.” payment. For example, the Social Security check that 67-year-old Frank Simmons receives is a government transfer payment. Simmons, who is retired, is not currently supplying a good or service to the government in exchange for the Social Security check. Because GDP accounts for only current goods and services produced, and a transfer payment has nothing to do with current goods and services produced, transfer payments are properly omitted from GDP statistics. See Exhibit 11-3 for a review of items omitted from GDP. EXHIBIT 11-3 What the GDP Omits What the GDP Omits Item Item Example Example Illegal goods Illegal goods and services services A person buys an illegal substance. illegal substance. Government Transfer Payments Legal goods and services with no record of the tra...
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