Question: How does the value added concept assist in avoiding double counting in the measure of gross national or domestic product

How does the value added concept assist in avoiding double counting in the measure of gross national or domestic product

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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 Economics Questions!

Q:

Watch the following video: https://www.youtube.com/watch?v=A7gZHzNQXBA Read the following articles and answer these questions: 1) Regarding SDGs, do you think the goals are achievable? If yes,...

Q:

Multiple Choice : Write the letter of the best answer. _____1. What does "too much money chasing too few goods" mean? increased demands for goofs Demands of goods is high but the supply is low....

Q:

https://www.youtube.com/watch?v=rGqhTQyY6g4 SYLVIE DOUGLIS, BYLINE: This is PLANET MONEY from NPR. (SOUNDBITE OF COIN SPINNING) STACEY VANEK SMITH, HOST: Welcome, everybody, to PLANET MONEY Summer...

Q:

Main Topic: Gross Domestic Product (GDP), Per Capita GDP and Quality of Life. Discuss the question: "Is GDP a good measure of national economic well being?" after reviewing the concept and details of...

Q:

Learning Objectives By the end of this section, you will be able to: Identify the components of GDP on the demand side and on the supply side Evaluate how economists measure gross domestic product...

Q:

Utilizing the text book,pages 264-278 In paragraph (1) Identify one country that has a current and excessive Trade Surplus. Identify the products that are responsible for the Trade Surplus, you may...

Q:

Utilizing the text book,pages 264-278. In paragraph (1) Identify one country that has a current and excessive Trade Surplus. Identify the products that are responsible for the Trade Surplus, you may...

Q:

U.S. Army Cost Benefit Analysis Guide 12 JANUARY 2010 Prepared by Office of the Deputy Assistant Secretary of the Army (Cost and Economics) Version 1.0 U.S. Army Cost Benefit Analysis Guide - V 1.0 2...

Q:

What are Capital goods? Select one: a.Goods used for consumption in the production process b.None of them c.Goods and services that are consumed fully when purchased by the consumers d.Goods such as...

Q:

Circular Economy In light of all the issues associated with circular economy, develop a framework to achieve sustainability and social responsibility while simultaneously promoting equitable economic...

Q:

Q No.1 What will be the five possible reasons for employees to be dissatisfied with their jobs in MUST?

Q:

1) Which of the following statements is not correct? Multiple Choice: In accounting, the term "cash" includes checks, money orders, and funds on deposit in a bank as well as currency and coins; In a...

Q:

Amsalu is an immigrant who arrived in the United States 15 years ago due to intertribal conflicts in Sudan. He speaks excellent English and is employed in the environmental services department of a...

Q:

A restaurant located in an office building decides to adopt a new strategy for attracting customers to the restaurant. Every week it advertises in the city newspaper. To assess how well the...

Q:

Determine the positive roots of the equation x2- 5x sin(3x) + 3 = 0.

Q:

Present value calculations. Using a present value table, your calculator, or a computer program present value function, answer the following questions: Required: a. What is the present value of nine...

Q:

During the current year, Robert pays the following amounts associated with his own residence: Property taxes ..................................... $3,000 Mortgage interest...

Q:

From discussions with your broker, you have determined that the expected inflation premium is 1.35 percent next year, 1.50 percent in year 2, 1.75 percent in year 3, and 2.00 percent in year 4 and...

Q:

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Q:

1. Background knowledge of the subject and

Q:

4. What specific changes in the environment have taken place in relation to the information we have collected?

Q:

2. The purpose of the acquisition of the information.