Double counting can be avoided by using the value-added approach when calculating GDP.

What was the typical policy of the British colonies toward the practice of "squatting" or freely settling and cultivating the land without any formal transfer of ownership?

(a) Squatting was encouraged by colonial officials as a way to encourage settlement of the land. (b) Squatting was discouraged by colonial officials because of the legal ownership of land by the Indians. (c) Squatting was generally discouraged by colonial officials; formal transfer of ownership to settlers was required because the British Crown and their designated officials claimed ownership to the land. (d) There was no general policy toward the practice of "squatting"; it was left to the individual settlers.

According to the Keynesian model, a decline in the expected price level

a. will increase the inflation rate a central bank must generate to achieve a target level of unemployment. b. will decrease the inflation rate a central bank must generate to achieve a target level of unemployment. c. will not affect the inflation rate a central bank must generate to achieve a target level of unemployment. d. will not impact the effectiveness of monetary policy.