What's it: Government expenditure refers to the money the government spends on goods and services or other items. Examples are expenditures on operational activities and investments in public services such as defense, education, social
GDP
How to avoid double counting in calculating GDP?
Double counting can cause miscalculations in the gross domestic product (GDP). This error will overstate the GDP number because it counts the same item more than once. To avoid these mistakes, we can use a value-added approach. How can
Gross Domestic Product: Three Approaches, Importance, How to Calculate
Gross Domestic Product (GDP) is the total market value of all final goods and services produced in the domestic economy during a certain period. Alternatively, we can also define GDP as the total expenditure or total income in the