1.7 Read the following extract and answer the question that follows. Construction data fudging kills reliability of official statistics Revelations about irregularities in the way the infrastructure ministry collected and compiled key construction data have delivered a devastating blow to the credibility of government statistics as a whole. The facts have left no doubt that the ministry must take strong action to prevent a recurrence. But they have also underscored the need for a fundamental review of the entire government's systems for compiling and reporting official statistics. The problem illustrated in the above extract is that of. a) Data revision b) Economic welfare c) Unrecorded activity d) Non-market production 1.8 Which of the following methods of calculating GDP would NOT be accurate when the information on the sale and purchases of intermediate goods and services is not available? a) The income method b) The expenditure method c) The production method d) The cost method

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1.7 Read the following extract and answer the question that follows.
Construction data fudging kills reliability of fficial statistics
Revelations about irregularities in the way the infrastructure ministry collected and compiled key construction
data have delivered a devastating blow to the credibility of government statistics as a whole.
The facts have left no doubt that the ministry must take strong action to prevent a recurrence. But they have also
underscored the need for a fundamental review of the entire government's systems for compiling and reporting
official statistics...
The problem illustrated in the above extract is that of...
a) Data revision
b) Economic welfare
c) Unrecorded activity
d) Non-market production
1.8 Which of the following methods of calculating GDP would NOT be accurate when the information on the sale
and purchases of intermediate goods and services is not available?
a) The income method
b) The expenditure method
c) The production method
d) The cost method
Transcribed Image Text:1.7 Read the following extract and answer the question that follows. Construction data fudging kills reliability of fficial statistics Revelations about irregularities in the way the infrastructure ministry collected and compiled key construction data have delivered a devastating blow to the credibility of government statistics as a whole. The facts have left no doubt that the ministry must take strong action to prevent a recurrence. But they have also underscored the need for a fundamental review of the entire government's systems for compiling and reporting official statistics... The problem illustrated in the above extract is that of... a) Data revision b) Economic welfare c) Unrecorded activity d) Non-market production 1.8 Which of the following methods of calculating GDP would NOT be accurate when the information on the sale and purchases of intermediate goods and services is not available? a) The income method b) The expenditure method c) The production method d) The cost method
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