When Calculating Gross Domestic Product (GDP),double Counting Can Be Avoided

question 69

Multiple Choice

When calculating gross domestic product (GDP) ,double counting can be avoided by:

• A)taxing corporate income.
• B)adding all income taxes to GDP.
• C)calculating GDP using the income as well as the expenditure method.
• D)adding the value of exports to GDP and subtracting the value of imports.
• E)summing the value added at each stage of production.

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Definitions:

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by the count of numbers.

Confidence Interval

A selection of values from sample-related statistics, presumed to hold the value of an undetermined population characteristic.

Population Mean

The average of a set of characteristics (e.g., measurements, counts) of the entire population.

Standard Error

A statistic that measures the dispersion or variability of a sampling distribution, often used in estimating parameters.