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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).
how does income flow in a governed economy
Problem 1: (a) Define the concepts of production-oriented capitalist system and market-oriented capitalist systems. (b) With set examples, explain how these firms behave
interaction between the two market force, demand and supply
QUESTION (a) State whether the following statements are TRUE or FALSE. Clearly explain your answer. (i)The Keynes liquidity Preference theory stipulates that money demand is
Question The Borneo Shop imports and sells a popular Blue Ray DVD player. The following current information about the business is available: Selling price per play
law of demand
2. You recommend spending $10,000 on equipment that will increase sales of your product by $1000 a year and reduce annual operating costs by $800. The equipment has 10-year lifetim
you are appointed secretary of the treasury of recently indepent country called rugaria
How can the population controlled? Governments can take some steps to controlled populations: • Enhance the education of women and their employment opportunities raises and
Explain why Caerphilly are considering this model of service provision Examine the costs and benefits of joining the shared service model. Your answer should cons
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