Which of the Following Helps Economists Avoid Double Counting in Computing

question 16

Multiple Choice

Which of the following helps economists avoid double counting in computing of GDP?

• A)Including goods and services produced only within a given area.
• B)Only include transfer payments made by the government and not individuals.
• C)Only include capital purchases by corporations and not by family-owned firms.
• D)Avoiding the use of intermediate goods in calculating GDP.

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Definitions:

Distinctiveness

Identifies the unique qualities or characteristics that set a person, object, or concept apart from others.

External Causes

Factors outside of an individual's or organization's control that can impact performance, outcomes, or operations.

Internal Causes

Factors within a person, such as attitudes, traits, or abilities, that influence their behavior.

Self-Fulfilling Prophecy

A belief or expectation that influences behaviors in a way that causes the belief to become a reality.