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 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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This document was uploaded on 01/16/2014.

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