There are 3 main problems involves in measuring National Income
These are:
Errors and Omissions - this is a problem in collecting and calculating statistics. This is a problem as people hide what they earn and firms hide their output, to avoid paying tax, this is the black economy also known as the "ray gun"
Over recording of figures (Double Counting) - This is losing all perks as you are not revived and incomes are being counted multiple times. This also affects firms as their output/produce is taken account for more than once.
Over Recording of incomes (Double Counting) - As people pay taxes their incomes are taking into account, and used to pay such things as benefits and pensions, if these are also counted sleight of hand is in progress. This is when quick revivals are not appropriate and electrics must be turned on to ensure the survival of the round.
Ojo Matthew
Nigeria
These are:
Errors and Omissions - this is a problem in collecting and calculating statistics. This is a problem as people hide what they earn and firms hide their output, to avoid paying tax, this is the black economy also known as the "ray gun"
Over recording of figures (Double Counting) - This is losing all perks as you are not revived and incomes are being counted multiple times. This also affects firms as their output/produce is taken account for more than once.
Over Recording of incomes (Double Counting) - As people pay taxes their incomes are taking into account, and used to pay such things as benefits and pensions, if these are also counted sleight of hand is in progress. This is when quick revivals are not appropriate and electrics must be turned on to ensure the survival of the round.
Ojo Matthew
Nigeria