3 marksNational Income Accounting
CAPE Economics Unit 2 · 2021 · Paper 2 · Question 1(b)(i)
Explain the concept of 'double counting'.
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Practise this questionOther parts of this question
- 1(a)(i)Define disposable income.[2 marks]
- 1(a)(ii)Define net national income.[2 marks]
- 1(b)(ii)Using an example, explain the concept 'marginal propensity to consume'.[3 marks]
- 1(b)(iii)Calculate the equilibrium level of income.[3 marks]
- 1(c)Discuss THREE limitations of national income accounting.[12 marks]
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