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What is the importance of the distinction between national income at market prices and national income at factor cost?
The distinction between national income at market prices and national income at factor cost is crucial for understanding the economic health of a country. National income at market prices includes taxes and subsidies, reflecting the actual market value of goods and services produced, while national income at factor cost represents the income generated by the factors of production without these distortions. This distinction helps policymakers assess the true economic output and the distribution of income, guiding effective fiscal and monetary policies. Ultimately, it provides a clearer picture of economic welfare and the impact of government interventions on the economy.
What else can I help you with?
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.
What is the law of variable proportion?
according to this law, if more and more units of a variable factor are employed with the fixed factor the total physical product(which the same as the total product) increases at a decreasing rate in the beginning, then increases at a diminishing rate and finally starts falling. assumption of the law: 1. state of technology remains constant. 2. its the short hand phenomenon. 3. distinction between fixed factor and variable factor. 4. all units of the variable are homogeneous.
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.
Who uses national income accounts?
National income is the sum of factor income accrued to the economic teritory of a country.
What is Net National Product at factor cost?
all final goods that produce in the rest of the world
What is the LCF of 11 and 33?
The lowest common factor of any two positive integers is 1. Please remember the distinction between lowest common multiple, and highest common factor, in case this is not what you intended to ask.
Is it true or false that an independent variable is the factor that is changed in an experiment?
True. An independent variable is the factor that is intentionally manipulated or changed by the researcher in an experiment to observe its effect on a dependent variable. This distinction allows for the investigation of causal relationships between variables.
What are the importance of resources?
time and factor are two important factor of resources
Has open web made national boundaries defunct?
NO.....Because national boundries still hold much importance. They are still a conflict arrising factor. No matter how much open web has helped join ppl across the world it has not dissapeared
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.
What is the importance of the quality factor Q of a tuned amplifier?
If quality factor is greater then bandwidth will also greater
What is Importance factor value of structure as per ASCE 7 05?
Importance Factor should be specified by engineer of record for the structure. If you refer to ASCE 7-05 you can find the different Importance Factors based on occupancy type / intent. There are three different importance factors: wind, snow and seismic.
What the importance of intrinsic factor?
Intrinsic factor is glycoprotein that is produced by the parietal cells of the stomach.
How did you get the answer for the factor between 1 and 20?
The factor of what.
Who won national television awards?
x factor
Importance of pace factor for engineers?
when you don't have any device (such as tape, stadia, & etc.), you can measure a distance by your own pace factor....
What is the law of variable proportion?
according to this law, if more and more units of a variable factor are employed with the fixed factor the total physical product(which the same as the total product) increases at a decreasing rate in the beginning, then increases at a diminishing rate and finally starts falling. assumption of the law: 1. state of technology remains constant. 2. its the short hand phenomenon. 3. distinction between fixed factor and variable factor. 4. all units of the variable are homogeneous.
