The Statistical Discrepancy That Regularly Arises in National Income Accounting

question 110

Multiple Choice

The statistical discrepancy that regularly arises in national income accounting refers to the slight difference between

• A)personal income and personal disposable income.
• B)estimates of GDP and actual GDP.
• C)the income and expenditure approaches to the calculation of GDP.
• D)the quarterly and annual approaches to the calculation of GDP.

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Definitions:

Arbitrator

An independent person or body officially appointed to settle a dispute outside the court system.

Award

A recognition or prize given for achievement, or in legal contexts, the resolution and determination provided by an arbitrator or judge.

Plaintiff

The person or party who initiates a lawsuit against another in a court of law.

Defendant

A person, business, or organization being charged or sued in a legal court.