The system of measurement for expressing macroeconomic data is called
A)national income accounting.
B)balance of payment accounting.
C)generally accepted accounting principles.
D)double entry bookkeeping.

Question

Quizplus · Accepted Answer

The system of measurement for expressing macroeconomic data is called national income accounting, which includes measures such as gross domestic product (GDP), gross national product (GNP), and national income. B is incorrect as balance of payment accounting focuses on international transactions. C is incorrect as generally accepted accounting principles are used for financial accounting in businesses, not macroeconomic data. D is incorrect as double entry bookkeeping is a method of accounting used by businesses to ensure accurate financial records, not for macroeconomic data.

The System of Measurement for Expressing Macroeconomic Data Is Called