Scribd Logo
Upload

Welcome to Scribd!

  • Week 6 - 05.11.2019 - Micro Revision and National Income Accounting

    Uploaded by

    Sebastian Bistran
    12 views2 pages
    National income accounting measures a country's economic performance using metrics like GDP and GNP. GDP measures the market value of all final goods and services produced within a country, excluding secondhand transactions and transfer payments. GNP also measures market value but includes goods and services produced by a country's citizens worldwide. GDP is calculated based on expenditures and includes consumption, investment, government spending, exports, and imports. Income and expenditures are equal in calculating GDP as represented by the formula Y = C + I + G + X - M.

    Original Description:

    Original Title

    W201920-20micro20revision20and20national20income20accounting

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    National income accounting measures a country's economic performance using metrics like GDP and GNP. GDP measures the market value of all final goods and services produced within a country, excluding secondhand transactions and transfer payments. GNP also measures market value but includes goods and services produced by a country's citizens worldwide. GDP is calculated based on expenditures and includes consumption, investment, government spending, exports, and imports. Income and expenditures are equal in calculating GDP as represented by the formula Y = C + I + G + X - M.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    12 views2 pages

    Week 6 - 05.11.2019 - Micro Revision and National Income Accounting

    Uploaded by

    Sebastian Bistran
    National income accounting measures a country's economic performance using metrics like GDP and GNP. GDP measures the market value of all final goods and services produced within a country, excluding secondhand transactions and transfer payments. GNP also measures market value but includes goods and services produced by a country's citizens worldwide. GDP is calculated based on expenditures and includes consumption, investment, government spending, exports, and imports. Income and expenditures are equal in calculating GDP as represented by the formula Y = C + I + G + X - M.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    Week 6 - 05.11.

    2019 - Micro
    Revision and National Income
    Accounting
    National Income Accounting

    Measuring economic activity

    Gross Domestic Product GDP

    Measures a countries economic performance

    Market value of all final goods and services

    Not included in GDP

    Secondhand transactions

    Private or public transfer payments

    Intermediate goods

    Gross National Product GNP

    Market value of all final goods and services produced by nationals located
    anywhere

    Components part of expenditure-based GDP

    Consumption expenditure C

    Investment I

    Government expenditure G

    Exports of goods and services X

    Imports of goods and services M

    Income = Expenditure

    Week 6 - 05.11.2019 - Micro Revision and National Income Accounting 1


    Y = CIGXM

    Week 6 - 05.11.2019 - Micro Revision and National Income Accounting 2

    You might also like