Question: Explain what double counting is and discuss why GDP is not equal to total sales.

Explain what double counting is and discuss why GDP is not equal to total sales.

Step by Step Solution

3.39 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Double counting occurs when intermediate goods are counted directly in c... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Macroeconomics Principles Questions!