Question

what precautions should we have to take when we calculating GDP?​

Answer 1

Explanation:

(i) Only final expenditure is to be taken into account to avoid error of double counting. (ii) Expenditure on second hand goods is not to be included. (iii) Expenditure on shares and bonds is not to be included. (iv) Expenditure on transfer payments (called transfer expenditure) is not to be included

Answer 2

Answer:

(i) Only final expenditure is to be taken into account to avoid error of double counting. (ii) Expenditure on second hand goods is not to be included. (iii) Expenditure on shares and bonds is not to be included. (iv) Expenditure on transfer payments (called transfer expenditure) is not to be included.

Explanation:

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