Explain the difficulties in the measurement of the national income?

Q: Why do we calculate national income?

A: National income is the value of final goods and services produced in an economy during a given…

Q: Suppose GDP in this country is $690 million. Enter the amount for consumption. Value National Income…

A: The answer to the question is as follows :

Q: What items are included in the calculation of GDP using the income approach ?

A: GDP refers to market value of good and services produced in a country in current period of time  So…

Q: GDP

A: GDP is also defined as Gross Domestic Product. GDP is the measure of value of all the final goods…

Q: What is real national income?

A: National Income: It is the total market value of all the final goods and services produced in the…

Q: How national income can be measured in economics? Explain briefly:

A:

Q: What are the main precautions needed to be taken while calculating the national income?

A: According to the given question National income is considered as the income which is considered as…

Q: what are the 4 excluded from gdp

A: Answer: Introduction:  GDP (Gross Domestic Product): GDP refers to the total value of final goods…

Q: What is national income (NI)?

A: National Income: It is defined as "the sum of total income earned by the different types of factors…

Q: What is the largest measure of national income?

A: National income refers to the total value of all the goods and services produced and sold within the…

Q: What is the contribution to GDP?

A: In this case both the sold and unsold bicycle considered for gdp calculation. Unsold one are…

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 are the different concepts of national income

A: There are various concepts of National Income GDP GNP NNP NI PI DI and PCI

Q: A discussion for National Income Determination.

A: As per Keynesian view, national income basically comprises of two determinants: Aggregate demand…

Q: Why does gross domestic product measure the final value of goods and services produced in a country…

A: Final goods are those goods standard measure of the value-added created by the production of goods…

Q: Investigate what is gross domestic product GDP

A: Answer: Gross domestic product (GDP): GDP refers to the market value of all the goods and services…

Q: To calculate gross national income(GNI) from gross domestic product (GDP),__ must be added and ___…

A: The GDP accounts for the total value of all the production that happens within the country in the…

Q: I cash out my stock to cash.  How does this effect the gdp

A: In an economy, gross domestic product considers all the final goods and services that are generated…

Q: Evaluate any five conditions where GDP fails in measuring the economic welfare of the people.…

A: In economics, the final demand domestically can be described as the total demand for final services…

Q: Define gross national income (GNI)?

A: There are many factors to measure the economic growth and development of a country. Gross national…

Q: Explain gross national income (GNI)?

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

Q: Q-1(B). Discuss the concept of national income. And explain how to measure National income with…

A: National income is defined as the money value of all final goods and service produced within the…

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: If national income is $5,000 billion and disposable income is $4,000 billion, then what is personal…

A: Given: National Income (Y) = $5,000 billion Disposable income(Yd) = $4,000 billion We know,…

Q: Why the intermediate goods are not included in measuring GDP

A: Intermediate goods are those goods which are not used for final consumption but used as input to…

Q: The equivalence of expenditure and income. What is the U.S total income in 2016 consisted of

A: The equivalence of tax and expenditure is total income. Total income of country varies according to…

Q: What is the difference between gross national product and net national product?

A: The value of products and services produced by a country throughout a fiscal year is referred to as…

Q: Discuss whether GDP is always reliable and accurate in reflecting economic performance of a country.…

A: GDP is that the price of all the finished merchandise and services created at intervals a country'…

Q: What are the four components of GDP?

A: GDP signifies a monetary measure of commodities produced in the domestic borders during a period. It…

Q: what is gross domestic product?

A: GDP refers to the market value of the final production of all the goods and services within the…

Q: Define national income? Why do countries keep national income accounts? Distinguish between GDP…

A: National income is the value of final goods and services produced in an economy every year.

Q: Which of the following is the way to show the output of a Kuwaiti company has a production unit…

A: The gross national income (GNI) is the entire amount of money earned by a country's citizens and…

Q: Draw a diagram showing circular flow of national income. Explain it in detail?

A: The circular flow of money explains how money and goods are circulated between the household sector…

Q: Which of these can measure national income?

A: The national income(NI) of a country shows the economic and production performance of a nation.…

Q: Explain Circular flow of National Income (diagrammatically) in three sectors economy

A: Circular flow of national income is said to be flow of payments and receipts for any goods or…

Q: Given the following: consumption = 430, investment = 300, government expenditure = 150 and net…

A: Economy's GDP is calculated by = Consumption + Investment + Government expenditure + Net export

Q: Explain the three approaches to national income?

A: According to the given question National income is also known as a national product which is a…

Q: Explain the concepts Gross national product, Net national product, National income and Disposable…

A: The worth of a country's finished domestic products and services during a certain time period is…

Q: c. Calculate the National Income (NI)

A: GDP = Personal consumption + Government spending + Gross investment + Net exports = 7304 + 1973 +…

Q: explain the concept of National income.Also state its features

A: National income is the basic concept of macro economics. It is the total income of all the services…

Q: In what ways are national income statistics useful?

A: The national income accounting refers to a bookkeeping system used by the government of a country to…