Double Counting (Counting the Same Thing Twice) in GDP Accounting

question 263

Multiple Choice

Double counting (counting the same thing twice) in GDP accounting is avoided by not including

• A) intermediate goods.
• B) illegal activities.
• C) net exports.
• D) depreciation.

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Definitions:

Merchant

An individual or business entity engaged in the sale and purchase of goods for profit.

Consideration

A legal concept that refers to something of value exchanged between parties to form a binding contract.

Article 2

Article 2 of the Uniform Commercial Code (UCC) deals with the sale of goods, providing guidelines and rules for transactions involving the purchase and sale of goods.

Stocks And Bonds

Financial instruments, with stocks representing ownership in a company and bonds being loans made to a corporation or government.