double counting
Definition
Counting the same thing twice, or more than twice. For example, the total value of output of all firms in a country overstates the country's output, since the value of produced inputs is counted again in the value of what they help to produce. To avoid this, GDP is measured either from value added or from only final goods.
Use double counting in a sentence
“ You should make sure that you do not do any double counting when you are figuring out all of your book keeping. ”
“ They had a double counting error and that made things a lot harder to figure out and that just made everyone feel bad. ”
“ Though Rick participated in double counting when gauging the success of his firm's production, he knew that this would not provide the clearest picture of his firm's success. ”
