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Economics (AS & A Level) · Oct / Nov 2021 · Paper 31 · Question 20

9708National income statistics

When measuring the value of total output of a country, economists use the concept of value added. What could explain this?

  1. AThey want to avoid double counting.
  2. BThey want to avoid the impact of inflation.
  3. CThey want to find the value of the hidden economy.
  4. DThey want to include indirect taxes and subsidies.

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Correct answer: A. They want to avoid double counting.

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