Double Counting Can Be Avoided by

question 201

Multiple Choice

Double counting can be avoided by

• A) including the value of intermediate goods in the current year.
• B) not counting the value of intermediate goods in GDP.
• C) including the value of intermediate goods in the GNP but not in the GDP.
• D) including the value of intermediate goods in the production year but not in the selling year of those goods.

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Definitions:

Potential Entrant

Refers to a business or company that is not currently in a market but has the capability and interest to enter the market if certain conditions are met.

Dominant Strategy

A strategy in game theory that yields the best outcome for a player regardless of what strategies other players choose.

Nash Equilibria

A situation in a non-cooperative game where no player can benefit by changing strategies, assuming the other players also don't change their strategies.

Maximin Strategy

A decision rule in game theory that aims to maximize the minimum gain possible from a set of strategies.