MACRO-ECONOMICS ASSIGNMENT TOPIC: NATIONAL INCOME ACCOUNTING IN INDIA WITH REFERENCE TO THE YEAR 2010-2011 What is NATIONAL INCOME? The concept of National Income is worth elaborating as it is the index of economic development. Innumerable varieties of goods are produced in an economy in a year. These goods or output are expressed in monetary terms. The aggregate of monetary values of all verities of goods produced in a country during a given period‚ usually a year is called National product. For the production
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Economy of Ghana National income determinants and the economy of Ghana NATIONAL INCOME ACCOUNTING National income accounting refers to a set of rules and techniques that are used to measure the national income of a country. In other words‚ National income is a measure of the value of goods and goods produced by the residents of an economy in a given period of time‚ usually a quarter or a year. National income can be real or nominal. Nominal national income refers to the current year
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Chapter 5: National-Income Accounting Multiple Choice Questions MEASURES OF OUTPUT 1. The primary purpose of the national-income accounts is to assist: A) Market investors in making more profitable investments. B) Wage earners in maximizing their incomes. C) Economic historians to better understand the economic past. D) Government policy makers in formulating economic policies and evaluating performance. Answer: D Type: Definition Page: 93 2. Prices
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EXERCISES 1. Given C = 40 + 0.5Yd I = 60 T = 10 + 0.2Y X = 20 a) Find out the value of equilibrium national income. b) Check if there is a budget deficit or surplus. c) And what about the trade balance? d) What happens if Imports increase of 20? G = 55 M = 10 2. Given C = 40 + 0.5(Y-T) I = 60 G = 55 T = 10 + 0.2Y What is the value of equilibrium income level ? If both autonomous consumption (expenses) and T increase by the same amount‚ equilibrium Y will increase‚ decrease or
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Economics Prep 3 Complete Paper 1 Essay Question: Q1 A and B page 169 A) Explain three uses of national income statistics B) Evaluate the use of GDP figures as a means of comparing countries. A) National income (total net value of all goods and services produced within a nation over a specified period of time) statistics have many different uses. It is for example used as a comparison scale between countries. This is a useful information‚ if for example a country needs help‚ but the resources
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or a trade surplus. Thus‚ this work is done to examine and find out how the growth of National Income can be affected by trade balance. STATEMENT OF PROBLEM Every country wants to be just an exporter of goods and services. But since no man is an island‚ no matter how much exports a country makes‚ it still has to import at some point. Using the national income identity‚ Y = C + I + G + (X – M) Y = National income or GDP C = Consumption I = gross investment G = Government expenditure X = Exports and
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‘‘ECONOMICS is a science which studies human behaviour as a relationship between ends and scarce means that have alternative uses.’’- By Lionel Robbins‚ an economist in an attempt to define Economics. Lionel considered the study of economics to be a social science that concerns itself with the investigation of how man maximizes his satisfaction from the limited resources at his disposal and not forgetting the fact that these available limited resources can be channelled into the production of other
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Freedom and limitations Freedom is the condition of being free and the power to act or speak or think without restraint. What does freedom mean to me? I can’t help but be thankful every morning that I wake up; I am a free woman. I pray for the men and women that go to the line every day to give us that freedom. Freedom comes in many different forms such as social‚ economic‚ physical and political. There are limitations to every type of freedom because you have the ability to abuse these
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Statute of Limitations (SoL) on debt is the maximum amount of legal time that creditors have to take you to court in order to recover debts owed by you. Once the statute of limitations period is over‚ the creditors cannot take you through the court system to recover their debts. Statute of limitations does not cover all forms of debt‚ for example SoL does not cover federal student loans‚ most type of fines such as speeding/parking tickets‚ past due child support or income taxes. Note: This information
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share price history from 2011 to 2012. Finally‚ from the result‚ it can be easily found that Woolworth is good choice for the investors for it has a increase on profit and it aim to have well responsibilities for the society. This report has some limitation‚ for Woolworth has lots of brand in the world‚ it just focus on the problem of the ALH group at this time. Introduction Choosing high profit company is very significant for investors‚ and ethical investment cannot be neglected. Ethical investment
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