International income accounting, double counting occurs w...
International income accounting, double counting occurs when
Intermediate goods are counted twice
Intermediate goods are counted with the final goods
Final goods are counted more than twice
Different people count the products
Correct answer is B
Double counting is an error caused as a result of illogical calculation. This term is used in economics to refer to the faulty practice of counting the value of a nation's goods more than once. Since goods are produced in stages, through specialized channels of production, many intermediate goods are used to produce a final good. If the values of each of these intermediate goods is added together, without subtracting expenditures incurred during the production process, the error of double counting will be committed.
Which of the following institutions assists the government in managing the national debt? ...
Palm oil and palm kernel are in ...
Economist speak about 'opportunity cost' when a person ...
Which of the following assets of the commercial bank does not yield revenue? ...
The distribution of goods by the price system is distorted when ...
Which of these factors causes a change in the quantity demanded of a commodity? ...
Deflation can be controlled by increase in ...
At any given level of output, a firm's total variable cost equals ...
A country whose economy is buoyant is likely to have ...
A major advantage of specialization and division of labour is that ...