accounts largely follow those given in the SNA. It is intended to give in the following paragraphs the major concepts used in National Accounts Statistics and the inter relationship particularly of those relating to macro-economic aggregates of national product‚ consumption‚ saving and capital formation. taken of the rental of buildings which are owned and occupied by the owners themselves. Own account construction activities are also similarly to be included. However‚ certain other activities like services
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a shirt by a dress making company. Coal used by a factory is an intermediate good because it serves a purpose in moving toward a final product (Bouman‚ J.‚ 2012). Intermediate goods are not counted toward the Gross Domestic Product because of the way investment is measured. The real issue is how we measure changes in business inventories‚ intermediate products are not sold so they are added to the inventory under investment. It moves out of inventory into a final good the next year and is subtracted
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Tutorial 1 Chapter 2: Macroeconomic accounts Multiple choice questions Question 1 Ignoring errors and omissions in the balance of payments accounts‚ if official interventions (Off) are positive‚ what may we conclude? a. That at least one of the current account (CA) and the private financial account (FA) was a deficit. b. That both the current account (CA) and the private financial account (FA) were a deficit. c. That either the current account (CA) or the private financial account (FA)
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What are the uses of National Income figures? Before understanding the uses of National Income figures it is of the utmost importance to define National Income and the three methods used to calculate it. National Income is the aggregate money value of goods and services produced by the factors of production over a given period of time in a country. It is the annual report and as a result it is referred as the real income‚ that is‚ income measured in terms of goods and services. When there is income
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HA NOI FOREIGN TRADE UNIVERSITY [pic] | | |Macroeconomics Essay | |Some people believe that Gross Domestic Product (GDP) is an inadequate measure of societal well-being and should be replaced by the Human | |Development Index (HDI). Do you agree with them? | |
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Fundamentals of Macroeconomics Fundamentals of Macroeconomics Throughout this paper I will provide an explanation of the following terms: Gross domestic product (GDP)‚ Real GDP‚ Nominal GDP‚ Unemployment rate‚ Inflation rate‚ and Interest rate. Within this paper I will consider purchasing of groceries‚ massive layoff of employees‚ and decrease in taxes as examples of economic activities. I will then describe how each of these activities affects government‚ households‚ and businesses as well
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for the first quarter of 2013. “ The Philippines has the fastest growing economy among Asian countries for the first quarter of 2013‚ the National Statiustical Coordination Board (NSCB) announced Thursday. NSCB announced that the country’s Gross Domestic Product (GDP) grew by 7.8% in the first quarter of 2013‚ faster that China (7.7%)‚ Indonesia (6%)‚ Thailand ( 5.3%)‚ and Vietnam (4.9%); Secretary of Socioeconomic Planning of the Philippines Arsenio Balisocan said in a press conference aired lived
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measure the Gross Domestic Production are by a national income and the outputs of a country economic. The second way is that the sum of the value of service is added to every end stage by all the industries within a country. Lastly the sum of the income is generated within a certain period which is the compensation of employees‚ taxes on production‚ and imports less subsides. In 2011 Russia Gross Domestic Product was worth 1479.82 billion in United States dollars. World Bank reported that Gross Domestic
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A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region‚ including gross domestic product (GDP)‚ gross national product (GNP)‚ net national income (NNI)‚ and adjusted national income (NNI* adjusted for natural resource depletion). All are specially concerned with counting the total amount of goods and services produced within some "boundary". The boundary is usually defined by geography or citizenship‚ and may also restrict
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the market price of the service provided would have been included in the calculation of the nation’s GDP for that year. Because the manuscript was typed by a friend‚ there was no exchange of money. GDP = C + I + G + (X – M) where; GDP = Gross Domestic Product C = Consumption I = Investment G = Government Spending X = Total value of goods exported out of the nation in the given time period M = Total value of goods imported into the nation in the given time period Because GDP reflects
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