information in Figure 01 describing the Sri Lankan economy. Quantities are given in millions of Rupees. (a) Calculate gross private investment. (b) Calculate GDP. (c) Calculate gross national product (GNP). (d) Calculate net national product (NNP). (e) Calculate national income. (f) Calculate personal income. (g) Calculate disposable personal income. Figure 01 Gross private domestic investment 586.1 Compensation of employees 5‚178.6 Sri Lankan exports of goods and services 380.4 Personal taxes 600
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a country‚ the Gross Domestic Product (GDP). This new approach in modern Macroeconomics‚ though it cannot measure human happiness‚ admittedly is the most important indicator of a national economic performance. In order to raise a national GDP‚ the state’s government has the duty to intervene. John Keynes championed the idea of a contra- cyclical practice. Although this approach has been critiqued‚ it is used in today’s EU policies regarding the crisis. 1. Gross Domestic Product and the Measure
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Circulation in macroeconomics Macroeconomics (from Greek prefix "makros-" meaning "large" + "economics") is a branch of economics dealing with the performance‚ structure‚ behavior‚ and decision-making of an economy as a whole‚ rather than individual markets. This includes national‚ regional‚ and global economies.[1][2] With microeconomics‚ macroeconomics is one of the two most general fields in economics. Macroeconomists study aggregated indicators such as GDP‚ unemployment rates‚ and price
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crops to the economy and accounted for the largest part of the foreign exchange of the country. But‚ the discovery of crude oil production in commercial quantities changed the structure of the Nigerian economy. This led to the neglect of agricultural product‚ making the economy to depend heavily on production of crude oil. In 2000‚ oil and gas export accounted for more than 98% of export and about 83% of federal Government Revenue. (Odularu 2008). Nigeria’s proven oil reserves are estimated to 35billion
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Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time. GDP per capita is often considered an indicator of a country’s standard of living;[2][3] GDP per capita is not a measure of personal income (See Standard of living and GDP). Under economic theory‚ GDP per capita exactly equals the gross domestic income (GDI) per capita (See Gross domestic income). Spanish economy began to slow in late 2007
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gov/interactive.htm • Under “National Economic Data”‚ click National income and product accounts • Click “Frequently Requested NIPA Tables” Questions: 1. Use Table 1.1.1 to answer the following: a. What was the GDP growth rate for each quarter of 2008 and 2009? Line 2008 I 2008 II 2008 III 2008 IV 2009 I 2009 II 2009 III 2009 IV 1 Gross domestic product -0.7 1.5 -2.7 -5.4 -6.4 -0.7 2.2 5.6 b. When did we go into recession
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Investment expense from BOP x average forex | same as preliminary but uses updated data | | Net Factor Income | Inflow - Outflow | same as preliminary but uses updated data | Inflow-outflow is deflated using composite price index of PCE‚ GGCE‚ Gross Fixed Capital Formation | | Net income from abroad in IndiaThe Net income from abroad in India was last reported at -837000000000 in 2011‚ according to a World Bank report published in 2012. Net income includes the net labor income and net property
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where. The objective of this piece of work is to introduce the reader to the fascinating world of economics through its most important abbreviation. One of the most common uses of its shortened form by economists is GDP‚ “which stands for gross domestic product” (Callen‚ 2008‚ p.48). It is an economic indicator created by the United States of America as a result of the Great Depression of the 1930 ’s. Prior to the economic developments that happened during that time‚ the States did not have proper
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THURSDAY‚ May 29‚ 2014 GDP DECLINES IN FIRST QUARTER Second estimate of GDP revises growth down Real gross domestic product (GDP) decreased 1.0 percent in the first quarter of 2014‚ according to the “second” estimate released today by the Bureau of Economic Analysis. In the fourth quarter of 2013‚ real GDP increased 2.6 percent. Quarter-to-Quarter Growth in Real GDP 6 4 Percent First-quarter GDP highlights The decline in real GDP was more than accounted for by a significant decline
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Indicators of development Economic development usually refers to the adoption of new technologies‚ transition from agriculture-based to industry-based economy‚ and general improvement in living standards (www.businessdictionary.com). In addition‚ economic development expands the availability of work and the ability of individuals to secure an income to support themselves and their families. Economic development includes industry‚ sustainable agriculture‚ as well as integration and full participation
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