accounts largely follow those given in the SNA. It is intended to give in the following paragraphs the major concepts used in National Accounts Statistics and the inter relationship particularly of those relating to macro-economic aggregates of national product‚ consumption‚ saving and capital formation. taken of the rental of buildings which are owned and occupied by the owners themselves. Own account construction activities are also similarly to be included. However‚ certain other activities like services
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Tutorial 1 Chapter 2: Macroeconomic accounts Multiple choice questions Question 1 Ignoring errors and omissions in the balance of payments accounts‚ if official interventions (Off) are positive‚ what may we conclude? a. That at least one of the current account (CA) and the private financial account (FA) was a deficit. b. That both the current account (CA) and the private financial account (FA) were a deficit. c. That either the current account (CA) or the private financial account (FA)
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Fundamentals of Macroeconomics Fundamentals of Macroeconomics Throughout this paper I will provide an explanation of the following terms: Gross domestic product (GDP)‚ Real GDP‚ Nominal GDP‚ Unemployment rate‚ Inflation rate‚ and Interest rate. Within this paper I will consider purchasing of groceries‚ massive layoff of employees‚ and decrease in taxes as examples of economic activities. I will then describe how each of these activities affects government‚ households‚ and businesses as well
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for the first quarter of 2013. “ The Philippines has the fastest growing economy among Asian countries for the first quarter of 2013‚ the National Statiustical Coordination Board (NSCB) announced Thursday. NSCB announced that the country’s Gross Domestic Product (GDP) grew by 7.8% in the first quarter of 2013‚ faster that China (7.7%)‚ Indonesia (6%)‚ Thailand ( 5.3%)‚ and Vietnam (4.9%); Secretary of Socioeconomic Planning of the Philippines Arsenio Balisocan said in a press conference aired lived
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a shirt by a dress making company. Coal used by a factory is an intermediate good because it serves a purpose in moving toward a final product (Bouman‚ J.‚ 2012). Intermediate goods are not counted toward the Gross Domestic Product because of the way investment is measured. The real issue is how we measure changes in business inventories‚ intermediate products are not sold so they are added to the inventory under investment. It moves out of inventory into a final good the next year and is subtracted
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What are the uses of National Income figures? Before understanding the uses of National Income figures it is of the utmost importance to define National Income and the three methods used to calculate it. National Income is the aggregate money value of goods and services produced by the factors of production over a given period of time in a country. It is the annual report and as a result it is referred as the real income‚ that is‚ income measured in terms of goods and services. When there is income
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HA NOI FOREIGN TRADE UNIVERSITY [pic] | | |Macroeconomics Essay | |Some people believe that Gross Domestic Product (GDP) is an inadequate measure of societal well-being and should be replaced by the Human | |Development Index (HDI). Do you agree with them? | |
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crops to the economy and accounted for the largest part of the foreign exchange of the country. But‚ the discovery of crude oil production in commercial quantities changed the structure of the Nigerian economy. This led to the neglect of agricultural product‚ making the economy to depend heavily on production of crude oil. In 2000‚ oil and gas export accounted for more than 98% of export and about 83% of federal Government Revenue. (Odularu 2008). Nigeria’s proven oil reserves are estimated to 35billion
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Circulation in macroeconomics Macroeconomics (from Greek prefix "makros-" meaning "large" + "economics") is a branch of economics dealing with the performance‚ structure‚ behavior‚ and decision-making of an economy as a whole‚ rather than individual markets. This includes national‚ regional‚ and global economies.[1][2] With microeconomics‚ macroeconomics is one of the two most general fields in economics. Macroeconomists study aggregated indicators such as GDP‚ unemployment rates‚ and price
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the market price of the service provided would have been included in the calculation of the nation’s GDP for that year. Because the manuscript was typed by a friend‚ there was no exchange of money. GDP = C + I + G + (X – M) where; GDP = Gross Domestic Product C = Consumption I = Investment G = Government Spending X = Total value of goods exported out of the nation in the given time period M = Total value of goods imported into the nation in the given time period Because GDP reflects
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