Which of the following over estimates the value of nation...
Which of the following over estimates the value of national income?
Incomplete statistical data
Wrong timing of computation
Changes in price of goods within the year
Double counting
Correct answer is D
In national income, double counting happens when certain items are counted more than once resulting in over-estimation of national product to the extent of the value of intermediate goods included.
This is called the problem of double counting which means counting value of the same commodity more than once.
Product differentiation in monopolistic competition implies that ...
The growth of a country’s population is affected by ...
The money which government spends yearly for the maintenance of its school is ...
When the total product starts falling, then the marginal product is ...
If the demand elasticity coefficient of cars is 0.5, it implies that the demand for petrol is ...
The demand and supply function of a commodity are given as below. Qd = 20 - 2p Qs = 6p - 12 ...
Adam Smith's Theory of value stated that the value of a commodity depended on________ ...
The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by_______ ...
Discounting a bill of exchange means the bill is ...
The introduction of division of labour in a firm will lead to ...