general government final consumption

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The spending of general government, that is, government at all levels, on real goods and services, excluding investment. General government final consumption includes items such as defence spending, the provision of administration, law and order, schools, and hospitals. It excludes government spending on pensions, unemployment benefit, other income maintenance payments, and debt interest. It also excludes government investment spending, for example on road construction or publicly owned housing.

Subjects: Economics.

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