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

The tipical structure of a company, At which of the stages in the tipical s...

At which of the stages in the tipical structure of a company is a business given an identity separate from its owners?

Define the process of setting objectives, Define the process of setting obj...

Define the process of setting objectives. What might be objectives for a newly appointed junior programmer? A hierarchy of objectives cascades down through the overall intend o

What is success effectiveness of world trade organisation, What is the succ...

What is the success effectiveness of World Trade Organisation in the promotion of development? Success effectiveness of World Trade Organisation in the promotion of developmen

Acknowledge a union through a card check, 1) True or False: Elections under...

1) True or False: Elections under the NLRA were intended to replace the need for striking in order to have a union recognized. 2) True or False: Companies can voluntarily acknow

Assignment, impact of economic policies on decision of any organisation

impact of economic policies on decision of any organisation

Asking process functionality to system under development, As selling is an ...

As selling is an ‘asking process’, how you could use this to assist you sell some further functionality to a system under development? When we use the buying cycle like a guide

Foreign direct investment, The Basic assumption which underlay the governme...

The Basic assumption which underlay the government of international economy has been that the economies of the world would converge around a capitalist model. The details of such a

Household sector, The prevention of main swings in economic activity can be...

The prevention of main swings in economic activity can be handled most simply by the household sector. Explain why?

How can you find out where to put your management effort, Stakeholders have...

Stakeholders have various interests or ‘stakes’ in a project. How can you find out where to put your management effort? Preferably, all stakeholders will have closely same crit

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