The statistical discrepancy that regularly arises in national income accounting refers to the slight difference between

Question

Quizplus · Accepted Answer

The statistical discrepancy refers to the difference between the results obtained from the two approaches (income and expenditure) used to calculate the GDP. While both approaches should yield the same result, in reality, there can be slight differences due to measurement errors and other factors. This discrepancy is typically addressed by adding an adjustment term to one of the approaches to bring the results in line with each other.

The Statistical Discrepancy That Regularly Arises in National Income Accounting