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: 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: 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: 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: 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: 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: 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: 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: 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: 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.