How does government fit into GDP accounting?
Answer to relevant QuestionsHow does the problem of double counting arise in calculating GDP, and how is it corrected? If Madonna married her personal bodyguard, what effect might it have on national income? Give an example of transitory income. What effect does this income have on the marginal propensity to consume? Calculate the level of autonomous investment, I, for each level of national income. What happens to the level of national income when intended investment is greater than actual investment?
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