In national-income accounting,"double counting"
A) occurs when the value of some output is omitted in the calculation of national income.
B) means that pre-tax and after-tax GDP will be different.
C) occurs when the value of output is counted more than once in the calculation of national income.
D) means that consumption will always be less than GDP.
E) leads to an underestimation of GDP in any given period.
Correct Answer:
Verified
Q10: Jodie's Bakery generates a yearly revenue of
Q11: Which of the following statements about national-income
Q12: In national-income accounting,the value of intermediate products
A)should
Q13: When adding up the value of all
Q14: Consider the circular flow of income and
Q16: Suppose national accounting was done by adding
Q17: In Shoetown,a rancher takes $0 worth of
Q18: Total value added in an economy is
Q19: In Lumberville,the lumberjack cuts trees and sells
Q20: Consider the circular flow of income and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents