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.

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Definitions:

Activation

This term refers to the process of stimulating activity within the brain or body, leading to increased responsiveness or action.

Homeostasis

The tendency of a biological system to maintain stability while adjusting to conditions that are optimal for survival.

Vigor

Physical strength, good health, and energy, often used to describe a robust level of activity or vitality.

Olds and Milner

Psychologists known for their discovery of the "pleasure center" in the brain through experiments involving electrical stimulation of the rat brain.