What are the major problems in measuring national income, Business Economics

Assignment Help:

What are the major problems in measuring national income?

The major problems in measuring national income:

a. Unreliable statistics data collection is costly and the figures collected via LDCS may be incomplete

b. Non-marketed output for example, subsistence farming does not result into an income so make no part of official NY figures.

c. Undeclared economic activity for example, Official GDP figures carry out the activities of shadow or informal economy (calculated as 76 percent of Nigerian GDP).


Related Discussions:- What are the major problems in measuring national income

What is pps?, Packets per second (pps) are a measure of throughput for netw...

Packets per second (pps) are a measure of throughput for network devices like bridges, routers, and switches. It is a reliable measurement only if all packet sizes are the similar.

Political lobbying, Tasks "Accounting standard setting is a political lo...

Tasks "Accounting standard setting is a political lobbying process, and as such offers various Opportunities and means for interested parties to affect its outcomes." Require

Healthcare licensure, Why are many economists opposed to licensure of medic...

Why are many economists opposed to licensure of medical facilities and personnel?

Economic order quantity, A manufacturing company has determined from an an...

A manufacturing company has determined from an analysis of its accounting and production data for a certain part that : a. Its demand is 9000 units per annum and is uniform

Discounting principle, Explain the discounting principle. Using the discoun...

Explain the discounting principle. Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next f

Calculate the maximum amount , Tri-City Industries is considering two possi...

Tri-City Industries is considering two possible capital projects. Project A requires an initial investment of $240,000 and provides cash flows before tax of $120,000 in year one, $

Supply and demand, how can I show the supply and demand of internet hubs?

how can I show the supply and demand of internet hubs?

Abaca, What is the current economic status of abaca farming?

What is the current economic status of abaca farming?

What is role of world bank in the promotion of development, What is the rol...

What is the role of World Bank in the promotion of development? The World Bank was found to promote post-war reconstruction and flow of capital to progressing countries. Its o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd