A major reason to collect economic data for national income and product accounts is to guide the government in appropriate economic policy.

Question

Quizplus · Accepted Answer

National income and product accounts provide crucial information about the current state of the economy, including measures such as gross domestic product, income, and savings. This information helps the government make informed decisions regarding economic policy, such as fiscal or monetary policy, to promote economic growth and stability.

A Major Reason to Collect Economic Data for National Income