, Measuring Domestic Output national income
national income = measures the economy's overall performance.
accounting
> Assess health of :
comparing levels production of regular intervals
economy
-
struck long-run course of economy > whether has grown/constant/declined.
-
-
>
-
formulate policies that will safeguard improve economy's health
e VS
s
I
GROSS DOMESTIC PROFIT
* total market value of all final goods
↓ total market value of all final goods is services services produced
given year by residents)
produced in given year within country registered business from particular country
-
boarders. -
ownership-based
-
citizen-supplied/Foregin-supplied resources X Also what is earned abroad3 repatriated by
residents
employed win country
Q ⑳ ⑤
>
-
GDD at factor Cost , Basic is Market Prices
·
expenditure approach= app at market Price
income approach =
App at factor cost
production approach = GDP at basic price
① factor cost
Price
⑳Basic
Prese
- other taxes on production
-
other subsides on production
-
subsides on products
>
-
Taxes 3 Subsides on Production
importsmuie
t
- Account Eproduction
n ness property taxes
license fees
Account on production
es businesses in order subsidize production
- -
subsides paid of a particular commodity
to allow manufacturers to sell of lower price that makes more affordable for consumers
e .
g bread
national income = measures the economy's overall performance.
accounting
> Assess health of :
comparing levels production of regular intervals
economy
-
struck long-run course of economy > whether has grown/constant/declined.
-
-
>
-
formulate policies that will safeguard improve economy's health
e VS
s
I
GROSS DOMESTIC PROFIT
* total market value of all final goods
↓ total market value of all final goods is services services produced
given year by residents)
produced in given year within country registered business from particular country
-
boarders. -
ownership-based
-
citizen-supplied/Foregin-supplied resources X Also what is earned abroad3 repatriated by
residents
employed win country
Q ⑳ ⑤
>
-
GDD at factor Cost , Basic is Market Prices
·
expenditure approach= app at market Price
income approach =
App at factor cost
production approach = GDP at basic price
① factor cost
Price
⑳Basic
Prese
- other taxes on production
-
other subsides on production
-
subsides on products
>
-
Taxes 3 Subsides on Production
importsmuie
t
- Account Eproduction
n ness property taxes
license fees
Account on production
es businesses in order subsidize production
- -
subsides paid of a particular commodity
to allow manufacturers to sell of lower price that makes more affordable for consumers
e .
g bread
