Double Counting in the National Income Accounts Will Occur If

question 66

Multiple Choice

Double counting in the national income accounts will occur if GDP is computed by summing up:

• A)final output sales.
• B)value added.
• C)all sales.
• D)the income earned by a country's residents.

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Definitions:

Team Workers

Individuals who collaborate effectively with others in a group setting, contributing to the team's success.

Self-management

The ability of an individual to manage their own actions, feelings, and thoughts, often in a work context, without direct supervision.

Social Context

The environment or background in which a situation occurs, including cultural, historical, and social factors that influence behavior and outcomes.

Entrepreneur

An individual who organizes, operates, and assumes the risk for a business venture, often innovating and creating new ways of doing business.