What are the major problems in measuring national income, Business Economics

Assignment Help:

What are the major problems in measuring national income?

The major problems in measuring national income:

a. Unreliable statistics data collection is costly and the figures collected via LDCS may be incomplete

b. Non-marketed output for example, subsistence farming does not result into an income so make no part of official NY figures.

c. Undeclared economic activity for example, Official GDP figures carry out the activities of shadow or informal economy (calculated as 76 percent of Nigerian GDP).


Related Discussions:- What are the major problems in measuring national income

What policies can developed to resolve debt problem, What policies can less...

What policies can less developed countries follow to resolve their debt problem? Highly indebted countries can resolve by less developed countries: Seek help by internat

Why do countries trade, Why do countries trade? International trade is...

Why do countries trade? International trade is the swap of goods and services among countries. Trade enhances consumer choice and complete welfare. Various countries have v

Regional trade agreements, Question: There are currently some 421 Regio...

Question: There are currently some 421 Regional Trade Agreements (RTAs) around the world. These RTAs normally provide preferential treatment to member countries, which is again

How is the equality of income distribution measured, How is the equality of...

How is the equality of income distribution measured? The Gini coefficient is a statistical type measure of income distribution. This Gini coefficient is: • 0, which impl

Examine the specific aims of e-government initiatives, QUESTION ICT too...

QUESTION ICT tools are deemed to present considerable opportunities to support a nations' sustainable development. The potential of e-Government in developing countries however

Elasticity, why does the quantity of salt demanded tend to be unresponsive ...

why does the quantity of salt demanded tend to be unresponsive to change in its price?

Statistically significantly, Suppose that historically, the proportion of p...

Suppose that historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd