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The health of the economy is measured by adding the value of all goods and services produced this figure is known as what?
Wiki User
∙ 13y ago
gross national product. nova net answer.
Wiki User
∙ 13y ago
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How do you count various goods and services and know the total production in each sector of economy?
as thousands of goods and services are produced, it is an enormous task to add up all these . To get to this problem economists suggested that the value of goods and sevices should be used rather than adding the actual numbers. But only one precaution is to be undertaken i.e., only the final value of the goods and services should be counted as it already includes the value of all intermediate goods.
What are the role of technological advancement in nations economy?
Technology plays a key role in the advancement of economy for a nation. With modern technology a nation is able to streamline its process, multiply its production, thus adding to the economy.
How is gross domestic product calculated?
The national income is calculated by subtracting indirect taxes from NNP and adding subsidies to it. Indirect taxes are those, which are usually included in the market prices of goods and services. Subsidies are monetary assistance given by government to firms for keeping market prices below the factor cost. give example
How do savings and investments influence economic growth and prosperity?
They promote economic growth by adding money into the economy, which is then spent on goods and services. That leads to greater availability of funds to lend, which leads to lower interest rates, which leads to greater borrowing for business investment, which leads to business expansion, which leads to more employment, which leads to economic growth.
What is the meaning of export pricing?
Import and export prices are created by adding up prices of goods. The export price is the price of goods purchased outside of the country, but produced within the U.S.
How do you count various goods and services and know the total production in each sector of economy?
as thousands of goods and services are produced, it is an enormous task to add up all these . To get to this problem economists suggested that the value of goods and sevices should be used rather than adding the actual numbers. But only one precaution is to be undertaken i.e., only the final value of the goods and services should be counted as it already includes the value of all intermediate goods.
What gas is produced by adding carbonic acid to salt?
Hydrochloric acid.
Why should hydrogen not be produced by adding potassium to hydrochloric acid?
it should be
Which colour is produced by adding together yellow and cyan?
light green
Which services are provided by the website Sikids?
Well, Sikids provides contest for kids to enter into and they may appear in the next magazine produced by them.These include caption adding, game playing and creating adventures for character to go on.
How is handmade paper produced and what are its uses?
it is produced by adding a common pigment coating and it is used for magazines to be appeare a rich look , , ,
How does investing promote growth?
Investment promotes economic growth by adding money into the economy which is then spent on goods and services to provide the good or service being invested in. Furthermore the product or service being invested in then gets sold generating revenue.
What molecule is produced by adding two electrons and one proton to NADP?
NADPH
What are the role of technological advancement in nations economy?
Technology plays a key role in the advancement of economy for a nation. With modern technology a nation is able to streamline its process, multiply its production, thus adding to the economy.
What kind of semiconductor is produced by adding indium in semiconductor crystals pnp or npn?
pnp
What is a measurement that has been measured exactly plus one digit that has been estimated called?
A pointless exercise! If it has been measured exactly then what is the point of adding one digit which has been estimated?
Acetylene gas C2H2 is produced by adding water to calcium carbide CaC2?
2.03g C2H2
