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
Calculate the price elasticity of demand or supply for the following function when P=8 p=6(I)p=40-0.5q

Suppose taht two people, Michell andJames each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle

EXCHANGE RATE SYSTEM: It is interesting to look at a case study of a country like India for several reasons: first it is a small country in terms of imports and exports as a p

Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.


graphical illustrations describing the influence of an increase in immigrants on the market supply of labour

Severe drought hit the coffee industry hard this year; as a result, more people are now switching to tea. The first table below shows the original supply and demand quantities in t

An economist's view of costs contains both explicit and implicit costs.  Explicit costs are accounting costs, and implicit costs are the opportunity costs of an allocation of resou


Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?