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because working women still have to perform 'housewife' duties in addition to their full time outside job so they would be double counting the working womans income.

Which country? They are certainly included in Australia and besides that, there is a growing trend for males to shoulder a greater part of the domestic chores.

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What are the reason for measuring national income?

You can measure national income by looking at various factors. The most important ones include average living standard and the rate of economic growth. National incomes measures the value of good and services a country produces.


What is nominal national income?

National income is defined as the total value of all the goods and services produced within a country plus income coming from abroad in a particular time period usually 1 year.


Uses of national income?

Uses of National Income Data:- 1:National Income as a measure of economic growth - Estimates of national income at constant prices indicate economic growth of a country. 2:National Income as an indicator of success or failure of planning - If a country has adopted planning as a means of economic growth then national income data can help in assessing the achievements of planning. 3: Useful in estimating per capita income - Per capita income is obtained by dividing national income by total population of the country. 4:Useful in assessing the performance of different production sectors - Production units of a country are broadly classified into primary, secondary and tertiary sectors. These sectors generate factor incomes. The data on factor incomes generated by these sectors can be used to measure their relative contributions to national income. 5:Useful in measuring inequalities in the distribution of income - All individuals so not have the same income. It means national income is unequally distributed among people. The extent of inequality in a country can be measured from the national income data collected through the income distribution methods. 6:Useful in measuring standards of income - The expenditure method reveals consumption expenditure and investment expenditure. If the total consumption expenditure is divided by the total investment expenditure we get per capita consumption expenditure which indicates the average standard of living of the people of the country. 7:Makes international comparisons possible - We can compare the economies of any two countries on the basis of their national income data.


What major problems arise in estimating national incomes in underdeveloped countries?

There's no difference on this statistical subject among developed, underdeveloped and emerging countries.


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.

Related Questions

Are step-parents' incomes included in calculating the EFC or just the incomes of the child's divorced parents?

Only the biological parents pay for their child.


What are the reason for measuring national income?

You can measure national income by looking at various factors. The most important ones include average living standard and the rate of economic growth. National incomes measures the value of good and services a country produces.


What has the author National audit office written?

National audit office. has written: 'Measurement of farming incomes'


Can you make me a sentence using income?

In a third world country people have low incomes.


What is an increase in national income is a necessary but not a sufficient condition for a rise in people standard of living' discuss?

YES, this is because the incomes are not use judiciously for social amenities that can benefit the public, (People living in the country) and the is caused by corruption.


What is nominal national income?

National income is defined as the total value of all the goods and services produced within a country plus income coming from abroad in a particular time period usually 1 year.


What five sources make up national income?

wages and salaries, income of self employed, rental incomes, & interest on savings and investments


Uses of national income?

Uses of National Income Data:- 1:National Income as a measure of economic growth - Estimates of national income at constant prices indicate economic growth of a country. 2:National Income as an indicator of success or failure of planning - If a country has adopted planning as a means of economic growth then national income data can help in assessing the achievements of planning. 3: Useful in estimating per capita income - Per capita income is obtained by dividing national income by total population of the country. 4:Useful in assessing the performance of different production sectors - Production units of a country are broadly classified into primary, secondary and tertiary sectors. These sectors generate factor incomes. The data on factor incomes generated by these sectors can be used to measure their relative contributions to national income. 5:Useful in measuring inequalities in the distribution of income - All individuals so not have the same income. It means national income is unequally distributed among people. The extent of inequality in a country can be measured from the national income data collected through the income distribution methods. 6:Useful in measuring standards of income - The expenditure method reveals consumption expenditure and investment expenditure. If the total consumption expenditure is divided by the total investment expenditure we get per capita consumption expenditure which indicates the average standard of living of the people of the country. 7:Makes international comparisons possible - We can compare the economies of any two countries on the basis of their national income data.


What major problems arise in estimating national incomes in underdeveloped countries?

There's no difference on this statistical subject among developed, underdeveloped and emerging countries.


When was Incomes Data Services created?

Incomes Data Services was created in 1966.


What is the relationship between lifestyle and incomes?

The relation ship between lifestyle and incomes are Incomes is the money you earn if you you have to much it si hard to keep track of it.


What is included on a income statement?

All expenses and incomes related to one specific fiscal year is shown in income statement which ultimately bring down the net profit or net loss for that period.