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..
determine the wage rate , Northern Lumber operates a large lumber-processi...
Northern Lumber operates a large lumber-processing mill in a small town in Washington State. It is one of the larger lumber producers in the region and has some market power in th
Investment demand theory , In the national income analysis, investment ref...
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
Optimal use of variable input, what is the definition
what is the definition
Elasticity and consumption expenditure, The relationship between, total exp...
The relationship between, total expenditure and price elasticity of demand has summed up in the below table: Table: Elasticity and Consumption Expenditure Elas
Equilibrium in a two commodity market, Equilibrium in a two commodity marke...
Equilibrium in a two commodity market Let us consider a two-commodity market model in which the two commodities are related to each other. Let us assume the functions for bot
What is the equilibrium in the labor market, What is the equilibrium in the...
What is the equilibrium in the labor market? Explain briefly. Equilibrium in the Labor Market a. The market labor of demand curve is the horizontal total of the individual l
Definition of perfect competition, 1. Prof. Marshall 'The more nearly perfe...
1. Prof. Marshall 'The more nearly perfect a market is, the stronger is the tendency for same price to be paid for same thing at the same time in all parts of the market". 2. Pr
Simon satisfying behaviour model, Q. Simon satisfying behaviour model? ...
Q. Simon satisfying behaviour model? The behavioural approach as developed in particular by Richard Cyert and James G. March of the Carnegie School, lays emphasis on explaining
Neo classical vs keynesian school, Neo Classical vs Keynesian School W...
Neo Classical vs Keynesian School We know that Keynesian economics was propounded as a revolution against the then prevailing orthodoxy of the classical school. In time,
Discuss quantity demanded and supplied , Supply and Demand Discuss and...
Supply and Demand Discuss and analyze following statement: The Wall Street Journal reported that recent law school graduates were having a very difficult time obtaining jo
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
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.