The u. s. government pays an economist at the u. s. department of commerce $50,000 in salary in 2006. the economist then retires. in 2007, the government pays him $30,000 in retirement benefits. which of the following is correct?

a.
the 2006 payment is included in 2006 gdp as government purchases, and the 2007 payment is included in 2007 gdp as government purchases.

b.
the 2006 payment is included in 2006 gdp as government purchases, and the 2007 payment is included in 2007 gdp as government transfer payments.

c.
the 2006 payment is included in 2006 gdp as government purchases, and the 2007 payment is allocated to previous years' gdp according to the amount of work performed by the economist each year.

d.
the 2006 payment is included in 2006 gdp as government purchases, but the 2007 payment is not included in 2007 gdp.

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?

Identify and describe a variety of performance rating scales that can be used in organizations including graphical scales, letter scales, and numeric scales.