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:

Negotiation

The process of discussing and reaching an agreement between two or more parties, each with its own interests and objectives.

Mediation

A confidential and voluntary process involving a neutral third party to help resolve disputes or conflicts.

Wrongful Dismissal

A lawsuit filed in a court by an employee alleging that he or she was dismissed without proper contractual or “reasonable” notice.

Reasonable Notice

The period of notice that an employer is legally required to give an employee before terminating their employment, or that an employee should give an employer before resigning.