Double Counting in GDP Accounting

question 153

Multiple Choice

Double counting in GDP accounting:

• A) refers to the fact that accountants check their figures twice.
• B) refers to the inclusion of both intermediate goods and final goods in GDP.
• C) is the method of using both income and expenditures in measuring GDP.
• D) is the method of calculating the GDP by including the net incomes received by residents of a nation living abroad.

---

Definitions:

Central America

A geographical region in the Americas bordered by Mexico to the north, the Caribbean to the east, the Pacific Ocean to the southwest, and South America to the southeast.

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere, comprising a variety of countries, cultures, and languages.

Advisory Opinion

An opinion issued by a court or a commission that does not have the effect of adjudicating a specific legal case, but merely advises on the constitutionality or interpretation of a law.

Specialized U.N. Agency

refers to an autonomous organization affiliated with the United Nations, focusing on specific sectors like health, agriculture, or education, such as WHO or FAO.