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A country's national income is simply:
Amount of economic activity happening - production of real goods & wages. There are several ways to measure this (Net output method, Net Product method, Value Addition etc.)
Factors affecting the national income are Labor, Capital, Land and Entrepreneurship. In essence, this means
NI = Wages + Interest + Rent + Profit
Note that NI is basically the GDP of the country subtracted the amount of capital consumed in producing that GDP, added/subtracted by foreign income flow and govt. subsidies.
What else can I help you with?
What are the factors affecting national income?
position and type of job you have
Differentiate between national income at market price and national income at factor cost?
National income at factor cost is the measure of national income or output based on the cost of factors of production.This allows the effect of any subsidy or indirect tax to be removed from the final measure. National income at market prices is the total income receivable plus taxes on production and imports less subsidies.
'National Income statistics are a powerful tool of economic understanding and analysis' Explain 'An economy's output is its income' Do you agree Explain?
national income measures the wealthy that exists in an economy.national income statistics wl determine national output under the fomular:output=income=expenditure!however the appropriateness of national income ar a measure of output is compromised by the weaknesses inherent in obtaining national income data!national income disregards underground economy or the black market which as a result economies that constitute a significant amount of such markets would have an understated national income figure thus its true measure of national out put wl nt be realised if these statistics are used!
What are some factors that determine the level of your income?
education, parent's social class, gender, race, etc
What factors influence national income?
1. national resources 2. quality & quantity of the factors of production 3.develpoment of science & technology 4.political stability (or0government policies
What are the factors affecting national income?
position and type of job you have
Differentiate between national income at market price and national income at factor cost?
National income at factor cost is the measure of national income or output based on the cost of factors of production.This allows the effect of any subsidy or indirect tax to be removed from the final measure. National income at market prices is the total income receivable plus taxes on production and imports less subsidies.
How do mortgage lenders determine affordability for potential borrowers?
Mortgage lenders determine affordability for potential borrowers by looking at factors such as income, credit score, debt-to-income ratio, and down payment amount. They assess these factors to determine if the borrower can comfortably make monthly mortgage payments.
'National Income statistics are a powerful tool of economic understanding and analysis' Explain 'An economy's output is its income' Do you agree Explain?
national income measures the wealthy that exists in an economy.national income statistics wl determine national output under the fomular:output=income=expenditure!however the appropriateness of national income ar a measure of output is compromised by the weaknesses inherent in obtaining national income data!national income disregards underground economy or the black market which as a result economies that constitute a significant amount of such markets would have an understated national income figure thus its true measure of national out put wl nt be realised if these statistics are used!
What are some factors that determine your level of income?
education, parent's social class, gender, race, etc
What are some factors that determine the level of your income?
education, parent's social class, gender, race, etc
What factors influence national income?
1. national resources 2. quality & quantity of the factors of production 3.develpoment of science & technology 4.political stability (or0government policies
Formulas to calculate national income used in economics in India?
how to compute national income. Through; expenditure approach, income approach, and input and output approach. Now for the expenditure approach you add G+I+C+(X-M) Income approach; addition of the factors of production
What are the factors that determine the demand for a composite good?
The factors that determine the demand for a composite good include the price of the good, the prices of substitute goods, consumer preferences, income levels, and the overall economic conditions.
What extent does national income measure social welfare?
National income does provide some measure of social welfare, but it is by no means a perfect measure. National income only captures economic activity, and does not take into account other important factors such as environmental quality, leisure time, or income distribution. In addition, national income does not always reflect changes in welfare that may occur over time, such as increases in life expectancy.
How much will I get pre-approved for?
The amount you get pre-approved for will depend on factors like your income, credit score, and debt-to-income ratio. Lenders will assess these factors to determine the maximum loan amount they are willing to offer you.
What are the Importance of national income with the national income concept?
the national income is that by the means of national income v can know that how much the income of country and v can find the national income dedact the all rents allowences paymants salaries and wages
