The measure to measure the value of the total final production in a country during a year is the gross domestic product. Which variables determine the gross domestic product? What are the two approaches that are used to measure gross domestic product?

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

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Q: Show how gross national product (GNI) can be derived from gross domestic product (GDP).

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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?

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A: GDP is the measure of the total value of services and goods produced within an economy during a…

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A: Gross Domestic Product(GDP) is the cumulative market value of every final goods and services…

Q: Define gross national income (GNI)?

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A: The measure that depicts the final value of goods and services being produced in an economy during a…

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A: (i) Value added can be calculated by using the following formula: Value added=Value of sales - cost…

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A: The modern concept of GDP or Gross domestic product first was developed by Simon Kuznets.

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A: Gross Domestic Expenditure: The expenditure way to deal with computing total national output (GDP)…

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Q: What are the two approaches used to measure gross domestic product? Explain each approach.

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Q: What is Gross National Income and give some examples

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Q: Identify which of the following measures are used to calculate national income?

A: The national income is the total income or the GDP which is the total domestic income which can be…

Q: Mention three difficulties in calculating national income by expenditure method.

A: National income is an income which is accordingly and generally produced by a country during a…

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A: The Gross Domestic Product (GDP) is the summation of money value of all the final goods and services…

Q: What variables determine gross domestic product? What are the two approaches used to measure gross…

A: 1. Gross domestic product is defined as the market value of final products and services that are…