Which of the following is/are true?

I.Consumption in the National Accounts includes the household purchases of household appliances such as air conditioners and furnances.

II.Government Purchases in the National Accounts does not include the government spending on redistributive transfer payments such as unemployment insurance payments and old age security payments.

Select one:

A.Only I is true.

B.Only II is true.

C.Both of the above are true.

D.None of the above is true.

Which of the following is/are true?

I.According to the historical data of Canada, the inflation rate calculated from theCPI was smaller than that calculated from theGDP deflator during the year 1973 to 1974.

II.For a country that exports oil like Canada in the 1970s, an increase in oil prices in 1973 to 1974 should have a smaller impact on the inflation rate calculated from the GDP deflator than the one using CPI.

Select one:

A.Only I is true.

B.Only II is true.

C.Both of the above are true.

D.None of the above is true.

Which of the following is/are true?

I.Net Taxes equals to Tax Revenue minus Transfer Payments.

II.Real Disposable income equals Y-T-C.

Select one:

A.Only I is true.

B.Only II is true.

C.Both of the above are true.

D.None of the above is true.