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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
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.
The largest functional share of the national income consists of?
wages and salaries
What is the relationship between wages and productivity as shown on the graph?
The graph shows that there is a positive relationship between wages and productivity. This means that as wages increase, productivity also tends to increase.
What appears to be the relationship between personal income and a country's GNP?
The relationship between personal income and a country's Gross National Product (GNP) is often positive; as GNP increases, personal income tends to rise as well. This occurs because higher GNP usually indicates greater economic activity, leading to more job opportunities and higher wages. However, the correlation can vary based on income distribution and economic disparities within a country. In some cases, GNP growth may not translate into significant increases in personal income for all citizens, particularly in economies with high inequality.
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
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.
The largest functional share of the national income consists of?
wages and salaries
What is the relationship between wages and productivity as shown on the graph?
The graph shows that there is a positive relationship between wages and productivity. This means that as wages increase, productivity also tends to increase.
What five sources make up national income?
wages and salaries, income of self employed, rental incomes, & interest on savings and investments
What five categories of income make up national income?
Wages and salaries, income of self employed individuals, rental income, corporate profits, and interest on savings and other investments
How does the relationship between US productivity and wages impact the overall economic well-being of the country?
The relationship between US productivity and wages affects the overall economic well-being of the country by influencing factors such as income inequality, consumer spending, and economic growth. When productivity increases but wages do not keep pace, it can lead to a widening income gap and reduced purchasing power for workers. This can impact consumer demand, which in turn affects businesses and overall economic growth. Ensuring that wages align with productivity levels is important for maintaining a healthy economy and promoting prosperity for all.
How does the relationship between productivity and wages impact the overall economy?
The relationship between productivity and wages significantly influences economic health. When productivity rises without a corresponding increase in wages, income inequality can widen, reducing consumer purchasing power and slowing economic growth. Conversely, when wages align with productivity gains, workers have more disposable income, boosting demand for goods and services and driving economic expansion. A balanced growth in productivity vs wages ensures that the workforce benefits from economic progress, fostering stability and reducing social disparities. Moreover, fair wage increases tied to productivity improvements motivate workers, enhancing overall efficiency. When this relationship falters, businesses may experience declining consumer spending, ultimately affecting profits and economic resilience. Thus, maintaining equilibrium between productivity and wages is crucial for a sustainable and thriving economy.
What is the income?
Income - means wages or salary.
How the higher national income will contribute he growth of the economy?
A higher national income reflects an increase in demand from the country itself and exports to outside countries. This contributes to the growth of the economy by increasing employment and wages to meet these demands.
Is wages due debit or credit?
wages is expense and expense is debit salary is income and income is credit
What is the difference between GDI and GNI?
Gross Domestic Income (GDI) measures the total income earned within a country's borders, including profits and wages. Gross National Income (GNI) measures the total income earned by a country's residents, regardless of where they are located. GDI focuses on income generated within the country, while GNI takes into account income earned by residents regardless of location.
