Double Counting in the Resource Cost-Income Approach to GDP Statistics

question 166

Multiple Choice

Double counting in the resource cost-income approach to GDP statistics is avoided by

• A) correct accounting of the values of exports and imports
• B) choosing only one method to calculate GDP--either the income or the expenditures method
• C) counting only the value added at each stage of a good's production process
• D) counting the value of final and intermediate goods and services
• E) subtracting the total value of intermediate goods and services from the total value of final goods and services

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Definitions:

Subjective

Pertaining to or influenced by personal feelings, tastes, or opinions rather than external facts or evidence.

Interview Process

A series of steps or stages involved in selecting a candidate for a position through meetings and assessments.

Paper-and-Pencil Honesty Test

A psychological test designed to assess an individual's honesty and integrity, typically used by employers during the hiring process.

Integrity

The quality of being honest, having strong moral principles, and consistently adhering to ethical standards.