Double Counting in the Value Added Approach to GDP Refers

question 88

Multiple Choice

Double counting in the value added approach to GDP refers to

• A)corporate income being taxed twice
• B)the amount of income taxes paid to states that is taxable by the federal government
• C)calculating GDP twice using the income and expenditures methods
• D)adding the value of exports to GDP and subtracting the value of imports
• E)counting the total value of a final output in addition to the value of the inputs used to make it

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Definitions:

Magma

The molten or semi-molten natural material from which all igneous rocks are derived, existing beneath the Earth's surface.

Thrust Sheets

Large sections of the earth's crust that have been moved and placed over another rock formation, typically due to compressional forces.

Subduction Zone

Regions where one tectonic plate moves under another, often associated with volcanic activity and earthquakes.

Thrust Faulting

A geological fault in which the upper block, above the fault plane, moves up and over the lower block, commonly found in mountain ranges.