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Pocket money given from a parents income is National Income other than money earned by windfall lottery,gambling,transfer income as gift, old age pension from government,scholarship,donations,sale of second hand equipment,commission on sales of second hand goods.
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∙ 13y ago
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What are the importance of national income in the economy?
The importance of national income in the economy is absolutely huge. This determines whether or not there is money that can be spent.
Distinguish between nominal national income and real national income?
real income is your real income. that's the actual money you've got. money income is the one which you are willing to spend (to buys goods etc.). So when we talk of the demand function we are considering the money income of the buyer.
What is the difference between real national income and nominal national income?
Real national income : the actual quantity of goods and services produced. the standard of living depends very much on the quantities of goods and services produced. Nominal national income : the money values of total output, total factor incomes and total expenditure. national income is measured in this way.
The total amount of money earned by a country in a specific time period.?
It's National Income.
What are the limitations of using national income figures to compare standard of living?
It does not show the discrepancies of who has the money. A country may have a large income and show that average personal income is high, but that money may be in the hands of just a few while everyone else is in poverty.
How does pocket money teaches independence?
Pocket money does teach independence because children will know how to spend their money when they grow bigger. Children should be given pocket money to learn their maths as well. Make sure that children do not waste pocket money on waste. Children should be given pocket money so that they can learn how to save money and use it on something good. I hope this helped!
Neutrality of money-hypothesis that the level of real national income is dependent on the level of money stock-economics?
False. The right answer is ,... the real national income is independent of the level of the money stock
How much pocket money does the average french child get?
10euros a week
What are the importance of national income in the economy?
The importance of national income in the economy is absolutely huge. This determines whether or not there is money that can be spent.
How does a child get pocket money?
By helping his parents and helping his neighbors for money but he has to ask his parents about helping neighbors
Distinguish between nominal national income and real national income?
real income is your real income. that's the actual money you've got. money income is the one which you are willing to spend (to buys goods etc.). So when we talk of the demand function we are considering the money income of the buyer.
Why is pocket money called pocket money?
Pocket money is called pocket money because money was put into the pockets.If money was in the pocket, the person could spend it
What are the disadvantages and the advantages of pocket money?
* That will make the child feel that 'parents money is not his/her money', * 'It could lead to fights between children', * 'Unhealthy competition amongst children on the amount of pocket money they get' * 'Loss of control on where children spend the money'
Can lawsuit money be garnished for back child support in nyc?
Yes, any form of income, other than needs-based income, can be garnished for back child support in New York. Money from a lawsuit or settlement is considered income.
Does your child need to file taxes for their Social Security money?
A child who is a dependent and earns income must file a return if they earned the specified amount of money as mentioned on the income tax form.
What is the difference between real national income and nominal national income?
Real national income : the actual quantity of goods and services produced. the standard of living depends very much on the quantities of goods and services produced. Nominal national income : the money values of total output, total factor incomes and total expenditure. national income is measured in this way.
What has the author Philip H Siegel written?
Philip H. Siegel has written: 'Notes and problems in national income analysis' -- subject(s): Income, National income 'Money, finance, and economic activity' -- subject(s): Banks and banking, Finance, Money
