Customer Service Chat
Get quote & make Payment
Uses of national income figures, Managerial Economics
USES OF NATIONAL INCOME FIGURES
We need national income statistics to measure the size of the "National cake' of goods and services available for competing uses of private consumers, government, capital formation and exports (less imports).
National Income statistics are also used in comparing the standard of living of a country over time
And also the standards of living between countries.
National Income Statistics provide information on the stability of performance of the economy over time e.g. a steadily increasing income would be indicative of increasing national income.
If National Income Statistics are disaggregated it would enable us to assess the relative importance of the various sectors in the economy. This is done by considering the contribution of the various sectors to Gross National Product over time. Such information is crucial for planning purposes for it reveals to planners where constraints to economic development lie. It therefore becomes possible to design a development strategy that eventually would overcome these problems. This central contribution could be in the form of employment or the production of goods and services.
By assessing exports and imports as a percentage of Gross national Product i.e. using national statistics, it is possible to determine the extent to which a country depends on external trade.
National Income Statistics also help in estimating the saving potential and hence investment potential of a country.
Posted Date: 11/28/2012 5:59:11 AM | Location : United States
Ask an Expert
Uses of national income figures, Assignment Help, Ask Question on Uses of national income figures, Get Answer, Expert's Help, Uses of national income figures Discussions
Write discussion on Uses of national income figures
Your posts are moderated
Write your message here..
Non-accelerating inflation rate of unemployment, NON-ACCELERATING INFLATION...
NON-ACCELERATING INFLATION RATE OF UNEMPLOYMENT During 1970s economists encountered a puzzle in the sense that inflation and unemployment data did not fit into the Phi
Case syudy., Please read the case study given below and answer questions gi...
Please read the case study given below and answer questions given. Case Study Electron Control, Inc., sells voltage regulators to other manufacturers, who then cu
Marris Model, Explaination of the Marris Model
Explaination of the Marris Model
Explain maximising revenue method, Q. Explain Maximising revenue method? ...
Q. Explain Maximising revenue method? In a number of cases, a firm's demand and cost conditions are such that marginal profits are greater than zero for all levels of productio
Indirect taxes, INDIRECT TAXES These are imposed on an individual most...
INDIRECT TAXES These are imposed on an individual mostly producers or traders but they can be passed on to be borne by others usually the final consumers. They can also be de
Direct control and moral suasion, Direct control and Moral Suasion Wit...
Direct control and Moral Suasion Without actually using the above weapons, the central bank can attempt simply to use "moral suasion" to persuade the commercial banks to restr
Utility, Utility Utility is the amount of satisfaction derived from th...
Utility Utility is the amount of satisfaction derived from the consumption of a commodity or service at a particular time. Utility is not inherent but a psychological satisfa
Define the demand schedule, Demand Schedule The law of demand can be ex...
Demand Schedule The law of demand can be explained through a demand schedule. A demand schedule is a series of quantities that consumers would like to buy per unit of time at d
Perfect competition, p=10, TC= 1000+2Q+.01Q^2, Q=?
p=10, TC= 1000+2Q+.01Q^2, Q=?
Dominant strategy, In a one-shot game, if you advertise and your rival adve...
In a one-shot game, if you advertise and your rival advertises, you will each earn RM5 million in profits. If neither of you advertises, your rival will make RM4 million and you w
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
IT Courses and Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.