Social Accounting(redirected from national accounting)
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A way to calculate economic growth in which one aggregates the growth or decline of each sector of an economy. For example, suppose a simple economy has three equally-sized industries: agriculture, manufacturing, and construction. If agriculture has grown 5%, manufacturing has grown 2%, and construction has declined 1%, then the total growth is 6% (5% + 2% - 1%). A major example of social accounting is the calculation of a country's GDP.