Double Counting Counting the Same Thing Twice) in GDP Accounting

question 289

Multiple Choice

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

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

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Definitions:

Society

A large group of individuals living together in a more or less ordered community, often sharing common cultural and social norms.

Culture

The set of beliefs, practices, arts, customs, and social behavior of a particular nation or people.

Socialization

The process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society.

Genetically Influenced

Traits or characteristics that are affected by genes inherited from one's parents.