Discuss the relevance of the national accounts to the economy of Ghana supported by specific examples?

Q: If consumption expenditures are €500 million, net investment is €100 million, depreciation equals €5…

A: GDP = private consumption + gross investment + government investment + government spending +…

Q: Income claculation for year 2013 are : Consumption=$40, Government Expenditure=$50, Investment=$25,…

A: The process by which a country's wealth increases over time is known as economic growth. Although…

Q: Suppose the nominal GDP of country X in 2013 was equal to 10000. The deflator index in 2014 was 107%…

A:

Q: xplain THREE (3) difficulties in measuring national income?

A: National income measures the monetary value of goods and services produced in the economy.

Q: India has 1.3 billion people and a GDP of 196 trillion Indian rupees. 75 rupees are exchanged for…

A: given the data, India's GDP is 196 trillion rupees. About 1.3 billion people 75 rupees are…

Q: The consumer price index (CPI) is not used to convert nominal GDP to real GDP because

A: CPI is the most broadly watched and utilized proportion of the U.S. inflation rate. It is…

Q: Current Account Value Exports of goods 107,941 Exports of services 44,133 Primary income 36,063…

A: The statistical discrepancy is the amount by the sum of the capital, current and financial account…

Q: (b) Provide a table with the nominal GDP for your assigned Caribbean country for 2020 and 2021.…

A: Gross domestic product is the final combination of goods and services in a country. GDP is an…

Q: Find national Savings given that :- National domestic income = $3100 million National consumption…

A: The data presented in the question above is:- National domestic income = $3100 million National…

Q: (3)Consider a stylized three-commodity economy that produces haircuts, hamburgers and DVDS. The…

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

Q: Calculate the following using information from the table below: i. GDP at Market Price ii. GNI at…

A: National Income: The entire monetary worth of all finished products and services produced inside a…

Q: The total market value of all final goods and services produced within a given period by factors of…

A: Factors of production: - The inputs that are used to produce goods and services known as the factors…

Q: Nominal GDP for this simple economy in year 1 equals

A: GDP is the value of all final goods and services produced in an economy in a given period of time.…

Q: Describe the national income and product accounts (NIPA).

A: GDP is an important indicator of a country's economic health, as it reflects the size of its economy…

Q: urrent Account Value Exports of goods 107,941 Exports of services 44,133 Primary income receipts…

A: The statistical discrepancy is the amount by which the total of current, capital, and financial…

Q: what are the different concepts of national income

A: There are various concepts of National Income GDP GNP NNP NI PI DI and PCI

Q: Based on the following data, GDP would equal ___ while Net National Product equals ___   in…

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: Part A: The base year in a country for the calculation of national income data is 2012. Real GDP in…

A: GDP or gross domestic product is the sum of the value of all end commodities produced within the…

Q: Which of the following are assumed to be independent of the level of national income: (a)…

A: National income refers to the total income earned by the people of an economy in a particular period…

Q: The following table contains data for a hypothetical closed economy that uses the dollar as its…

A: Gross domestic product (GDP) is a monetary proportion of the market worth of the relative multitude…

Q: Q.1.5 The value of the nominal GDP in 2019 is: (1) R1 530. (2) R1 045. (3) R2 880. (4) R3 490.

A: GDP measures the total aggregate output that is produced in an economy at a given period of time.…

Q: how consumption, saving and investment relate to national income.

A: National income of a country is generated by considering all the economic activities conducted by…

Q: It is expected that in the next twenty years the gross domestic product of China will become larger…

A: While comparing the GDP in both countries, China becomes larger than the United States. This means…

Q: It is difficult to calculate the value of GDP and it does not provide an accurate measure of the…

A: GDP measures the total amount of final goods and services produced in an economy during a given…

Q: GDP deflator (GDP deflator for year t = nominal GDP for year t divided by the real GDP for year t)…

A: The measure that depicts the final value of goods and services being produced in an economy during a…

Q: Broken window fallacy pertains to: errors in estimating the GDP figures neglect of short term…

A: In economics, the broken window fallacy refers to the economic situation when an economy is…

Q: As per the World Bank, Philippine Real GDP (constant 2015 prices) was at around 396,220,000,000 USD…

A: "GDP deflator for any year is obtained by multiplying 100 by the ratio of nominal GDP of that year…

Q: What items are excluded from national income statistics which would be important to take account of…

A: GDP measures the monetary value of all the goods and services produced in a country, that is the…

Q: If Gdp deflator is equal at 120   it means that  :  1- stagflation  2- deflation  3- inflation…

A: The GDP price deflator measure the changes in prices by comparing nominal GDP to real GDP.

Q: The following table shows the outputs and prices of three products produced by an economy in 2018,…

A: To compute the GDP, we require to multiply the quantity of every product by its price and after…

Q: Assume you have the following data for a hypothetical country for a specific year (in billions of…

A: The objective of the question is to determine the appropriate method for calculating Gross Domestic…

Q: Expenditures for consumer goods and services Exports Government purchases of goods and services…

A: Personal income describes  the total earnings received by an individual from various sources,…

Q: The base year in a country for the calculation of national income data is 2012. Real GDP in this…

A: The total currency worth of all items and services made as output in an economy during a year is…

Q: To arrive at the National income using the value added method, what has to be added to the net…

A: National income is the total value of commodities produced by the companies in a country.

Q: In most developed countries, services account for the majority of gross domestic product.  False…

A: Gross Domestic Product is defined as the final value of all goods and services produced within a…

Q: GDP measures the value of production within the geographic confines of a country and even outside…

A: The answer is FALSE.

Q: how much was the net primary income from the rest of the world in 2019?

A: Net primary income is the net flow of income, investment, profits and dividend on investments and it…

Q: Difference between national income and national wealth.

A: National income and national wealth are two different aspects.

Q: Expenditure on free services provided by the government is a part of national income  True/False

A: # Expenditure on free service by the Government represents government expenditure and is counted…

Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.