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:

Reasonableness

The quality of being moderate, fair, and sensible in judgment or expectations, often evaluated in legal contexts.

Offeror's Intention

The specific intent by the person making an offer in a contract to be bound by the offer if it is accepted by the offeree.

Subjectively Clear

A term referring to information or statements that are clearly understood from a personal or individual perspective, often based on personal judgment.

Power of Acceptance

In contract law, the authority to accept an offer and create a binding legal agreement by expressing agreement to its terms.