national income is equal to quizlet
If demand for Irish exports increases then this will increase the circular flow of income. Over this period, the share of per capita consumption expenditure in per capita disposable income increased from about 75 percent in 2001 to more than 95 percent in 2005.
C. national income plus government transfer payments.
D. equal to the value of all final goods and services produced within a country's borders during one year. However, in Ireland's case, pressure from the ECB to reign in the government's budget deficit has an influence on policy1. However, in the long run increased prices may see demand falling resulting in a reduction in consumption andIt has been estimated that in the Irish economy: MPM = 0.4, MPT = 0.24, MPS = 0.26.Given that Gross National Product at Current Market Prices is €180 million;In the short run: Builders no longer receive subsidies for 1st time houses The decrease in first-time houseWhy is GNP rather than GDP regarded as a better indicator of living standards in the Irish economy?GNP is a far better indicator of living standards because it takes net factor income from abroad into account and in our case this is a significant negative figure of approx €30bn in 2011. What would the net effect on Canadian GDP be?is GDP at current prices divided by GDP at base period prices multiplied by 100dividing the nominal value of GDP by the GDP deflator and then multiplying by 100.real GDP divided by the total number of hours workedGDP understates the total production of goods and services for all but which one of the following reason?As a measure of human well being, GDP may be inadequate because itIgnores the way current production methods may reduce quality of lifeIf the nominal value of GDP is $400 billion and the real value of GDP is 380 billion, then the value of the GDP deflator must have beenSuppose that a firm sells its output for 40,000; that it pays 22000 in wages, 10000 for materials purchased from other firms and 3000 in interest payments to bankers; and that it declares profits of 5000, the firms value added is...Suppose that the steel industry has a total output of 63.8 billion and purchase 49 billion in intermediate inputs. Who of the following will experience a decrease in purchasing power?A firm that is committed to increasing its wages by 5 percent over the year but whose prices are likely to increase only by the overall rate of inflationshows the price of a basket of consumer goods at some specific time relative to the price of the same basket of consumer goods in some base periodMeasures the burden of borrowing and also the real return on an assets in terms of its purchasing power.If the value of a country's merchandise imports exceeds the value of its merchandise exports by 50 million, it follows thatit has a 50 million deficit on its merchandise trade accountIf real potential GDP is 893 billion and current real GDP is 890 billion, thenIf a particular index number in 2010 is 127 and the base year is 2007, then the index shows an increase ofA price index changes from 120 to 114 over a particular time period.
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