The balancing item for the ALLOCATION OF PRIMARY INCOME ACCOUNT is: a. Mixed Income b. Value Added/ GDP c. Gross National Income d. Disposable Income
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The balancing item for the ALLOCATION OF PRIMARY INCOME ACCOUNT is:
Mixed Income
Value Added/ GDP
Gross
Disposable Income
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- Differentiate between the production approach and income approach to the measurement of national income. Write the pros and cons of each method.The product approach of national income accounting measures: income received by owners amount of output produced income received by workers amount spent by ultimate purchasers Which of the following economic output cannot be measured using market value? clothes imported from foreighn countries inventories added by a firm in the current year childcare provided by parents cars sold three years agoQ.No.1. Differentiate the following by giving at least one practical example National income Vs Personal income
- The agency responsible for compiling the National Income Product Accounts for the U.S. economy is the A. Bureau of Economic Analysis B. National Bureau of Economic Research C. Bureau of Labor Statistics D. Council of Economic AdvisorsThe National Income Identity is A . C+I-G-NX B. C+I+G+EX C. C+I+G+NX D. C+I+G-IMGDP at market prices R397bn Net primary income payments to the rest of the world R37bn Indirect taxes R23bn Subsidies R11bn Calculate the value of gross national income (GNI) at market prices. Calculate the value of net national income (NNI) at factor cost.
- The equation total production= total income = total expenditure is called A- the goods-market equilibrium condition B- the total identity C- the fundamental identity of national income accounting D- Say’s lawWhich of these items will increase the level of national income? a. Higher depreciation b. Lower net factor income from abroad c. Higher intermediate consumption d. Higher gross outputQuestion: What is the aggregate of the gross balances of primary income of all resident institutional units knows as?[A] Gross domestic Product[B] Gross national product[C] Gross National income[D] Net national productPlease Don't use chatgpt or other ai tool.
- To calculate gross national income(GNI) from gross domestic product (GDP),__ must be added and ___ must be subtracted from GDP. a) primary income payments, primary income reciepts b)primary income receipts,primary income payments c)subsidies for local production, tariffs on production from rest of the world d)taxes from rest of world, subsidies received from rest of worldWhat is the formula for the NET DOMESTIC PRODUCT In the economic HELPGDP at market prices R397bnNet primary income payments to the rest ofthe worldR37bnIndirect taxes R23bnSubsidies R11bn Consumption of fixed capital R32bn 1. calculate the value of gross national income (GNI) at market prices. 2.Calculate the value of net national product (NNI) at market prices. 3. Calculate the value of net national income (NNI) at factor cost.
