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To Solve the Double Counting Problem, Economists Include Only Final

question 140

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To solve the double counting problem, economists include only final goods and services in the summing of gross domestic product.


Definitions:

Voter Preferences

The individual choices or inclinations of voters towards candidates, political parties, or policy issues, which guide their decisions in elections.

Special-Interest Effect

The phenomenon where policy decisions disproportionately benefit a small, particular group at the expense of the general public.

Free-Rider Problem

A situation where individuals consume a good or service without contributing to its cost, often leading to underprovision of that good.

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