Differentiate between income approach and expendature approach to measurement of national income . Also give the impoetance of national income in the economy of country ?

Q: 4. Describe the relationship between the two income concepts below and explain why the value is…

A: In economics, GDP is calculated in different forms to understand the contribution of different…

Q: Question 6 What must be added to the domestic factor income to avail national income?

A: National income is defined as the total market value of final goods and services produced by the…

Q: xplain THREE (3) difficulties in measuring national income?

A: National income measures the monetary value of goods and services produced in the economy.

Q: Which of the following is included in personalincome but not in national income?a. Compensation for…

A: Personal Income and National Income varies certainly. National Income includes all the factor…

Q: The nominal income of the population increased by 20% over the year, and the consumer price index…

A: Real Income is the Income of an individual after accounting for the inflation how much money will be…

Q: Q.No.1. Differentiate the following by giving at least one practical example  National income Vs…

A: National Income is a broader term vis-a-vis personal income.

Q: Find out NDP from given data.GNP = 1000Net factor income from abroad = -100 Net indirect of fixed…

A: NDP FORMULA:  1) GNP - Net factor income abroad = GDP 2) GDP - Depreciation = NDP   Given…

Q: Explain the Basic Equation of National Income with its genesis meaning.

A: The National Income(NI) is the aggregate sum of pay building to a country from economic activities…

Q: The groups who spend aggregate income are: O Households, businesses, governments and foreign sector…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 4. From the following data, calculate national income by valued added (net output) method (Rs. In…

A: Product or value added method is a way of computing the national income of a country. This system is…

Q: We always hear about individual (and contractors) working "under the table", does this income really…

A: Black market refers to the market where commodities are traded illegally. Generally, the black…

Q: A. Discuss two uses of the National Income statistics. B. Explain why ‘transfer payments’ are…

A: (A). National income statistics help us to get information about the structure of the economy. It…

Q: If net factor income from abroad is $900 million and the value of national income is $6000 million…

A: The information being provided to us is as follows:- Net factor income from abroad = $900 million…

Q: 19. Real national income means: (a) national income at current prices (b) national income at factor…

A: GDP Deflator: It is simply the ratio between the real GDP and the nominal GDP of a country. It shows…

Q: Calculate (a). The Gross national income at factor cost (b). Net national income

A: A)   Gross National Income at factor cost -:…

Q: Calculate NDPFC if :- National Income = $23,000 Net factor income from abroad = $12,000

A: The data presented in the question above is:- National Income = $23,000   Net factor income from…

Q: Compute the GNP using the Income Approach and Expenditure Approach.

A: GNP is the Gross National Product of an economy. It can be defined as the sum of the value of all…

Q: 35 - Which of the following does GNP measure? A) Illegal economic activities B) Non-market…

A: The monetary value of all of the services and finished goods being produced by the factors of…

Q: What must be added to the domestic factor income to avail national income?

A: According to the given question Actually we can say that domestic factor income is basically the…

Q: What precautions should be taken while estimating national income by income method? Or What…

A: The total income generated by a nation's economic activities over the course of a year is known as…

Q: Explain the importance of GDP

A: useful info Hello. Since you have posted multiple questions and not specified which question needs…

Q: In china, for 2019 the net factor income from abroad is $31000 and NDPFC is $9000 Calculate…

A: The information being given is:- Net factor income from abroad in 2019 = $31,000 NDPFC In 2019 =…

Q: What is Gross Domestic Product? What is included in this statistic? What is excluded?

A: (Q)What is Gross Domestic Product? What is included in this statistic? What is excluded?

Q: Calculate National income if:- GNP at MP = $3000 Depreciation = $2000 Net indirect taxes = $500

A: The data presented in the question above is:- GNP at MP = $3000   Depreciation = $2000   Net…

Q: The value of net factor income from abroad is $900 million and the value of national income is $5000…

A: Given: Net factor income from abroad=$900 million National income=$5000 million

Q: If National income is $3250 million and NDPFC is $2500 million Find net factor income from abroad

A: According to the above mentioned question, the values are:- National Income = $3250 million NDPFC =…

Q: Explain gross national income (GNI)?

A: Gross National Income (GNI) is a widely used macroeconomic indicator. This data is often considered…

Q: if national income is $600 bilion , personal income is $400 bilion , personal taxes are $120 bilion…

A: Macroeconomics analyzes the economy as a whole. It studies aggregate economic concepts such as…

Q: What are intermediate goods? Why do economists exclude the value of intermediate goods while…

A: Intermediate goods, producer goods or semi-completed products are goods, like mostly completed…

Q: 14. In which form, the largest percentage of national income is earned? A. O Interest income B. O…

A: National Income is the aggregate earning of country's production in the current year which includes…

Q: Can there be a condition where the value of real gross domestic product becomes equal to the nominal…

A: # Nominal GDP is calculated taking into consideration the current year prices on the other hand in…

Q: f National income is given to be as $22,000 and net factor income from abroad is $19,000 Calculate…

A: here we calculate the NDPfc by using the given information so the calculation of the following by…

Q: Explain why transfer payments are excluded from national income statistics.

A: National income statistics serve a very important purpose for policy makers and economic planners.

Q: Explain the difficulties in the measurement of the national income?

A: According to the given question While measuring the national income of a country there exists two…

Q: aswer the following questions. What is the difference between Gross Domestic Product and Gross…

A: Note: You have uploaded two questions simultaneously at a time, therefore we shall answer the first…

Q: How should the following activity be treated in estimating national income of a country. Give…

A: National Income helps us gain the idea about the total wealth the nation has generated within a year…

Q: The national income accounts for a hypothetical country, Hypothetica, appear in the table below. c.…

A: Gross domestic product of a country is the sum total of money value of goods and services produced…

Q: If nominal GNP through expenditure approach is $10000 and real GNP is $10000. Find the GNP deflator.

A: Nominal GNP = $10000 Real GNP = $10000

Q: Calculate GNP at MP if:- GDP at MP = $5500 Net factor income from abroad = $2200

A: The data presented in the question above:- GDP at MP = $5500   Net factor income from abroad = $2200…

Q: Identify the part of the personal income which is actually available for consumption O a.…

A: Income is the money received by a person or a company in exchange for labor, the production of a…

Q: Find the national income if the domestic income is 2200 and net factor income from abroad is 60

A: So in the question, Domestic income is = 2200 The value of net factor income from abroad is = 60…

Q: 7. Why are the following not included in national income : (a) Sale of an old car; (b) Winning of a…

A: National Income refers to the measurement that provide information about the total addition of new…

Q: Year Nas income. index number nominal 2000 1000 100 2001 1500 120 2002 2100 125 From the table above…

A: Given Nominal Income for 3 years

Q: 19. Real national income means: (a) national income at current prices (b) national income at factor…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Calculate the value of NVAFC  Its given that the value of GVAMP is $350 million, the value of net…

A: We are given with the information:- The value of gross value added at Market price = $350 million…