WAEC - Economics (2010 - No. 30)
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
Vysvětlení
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.