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Program Spending: Government spending that is undertaken to provide useful public programs. Program spending includes both transfer payments which are intended to supplement the in
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Measure Inflation : There are two common methods of measuring inflation: (i) percentage change in price index numbers (PIN) , and (ii) change in GNP deflator. The tw
Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det
National Income Determination: National Income Determination deals with what determines the size of a nation’s national income. The size of a nation’s national income is deter
why use GNP in macroeconomichs analysis
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