National income, Microeconomics

National income:

The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either for consumption or for addition to wealth.
 
GDP is the monetary value of final goods and services produced in an economy (for example within the four walls of Ghana) in a given time period, say one year.

National Income estimates are very useful to economists, policy makers, business people and investors. However, some problems are faced in accounting for national income.

Posted Date: 1/3/2013 12:00:31 AM | Location : United States







Related Discussions:- National income, Assignment Help, Ask Question on National income, Get Answer, Expert's Help, National income Discussions

Write discussion on National income
Your posts are moderated
Related Questions
what are the sources of oligopoly power

explain how macro and micro issues may be represented using production possibility curve

a) Describe and derive the equilibrium contract offered to high risk individuals.                                             b) Describe and derive the equilibrium contract offe


use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag

a consumer consumes only two goods x and y is in eqillibrium price of x falls explain the reaction of consumer through utility analysis

national income and what is used to measure it

why is elasticity important for beachfronf properties

#quesUse a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more wom

1. Nonwage Determinants of Labor Supply Suppose that two jobs are exactly the same except that one is performed in an air-conditioned workplace. How could you measure the value wor