NATIONAL INCOME ACCOUNTING

MACROECONOMICS - NATIONAL INCOME ACCOUNTING

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NATIONAL INCOME ACCOUNTING by Mind Map: NATIONAL INCOME ACCOUNTING

1. DEFINITION

1.1. The total value of final goods and services produced by the nationals of a country for a particular period of time.

2. IMPORTANT CONCEPTS IN NATIONAL INCOME ACCOUNTING

3. METHODS OF CALCULATING NATIONAL INCOME

3.1. - EXEPENDITURE APPROACH

3.2. - PRODUCT APPROACH

3.3. - INCOME APPROACH

4. PROBLEMS RELATED TO INCOME ACCOUNTING

4.1. - PROBLEMS OF CALCULATION OF NATIONAL INCOME

4.2. - PROBLEMS OF COMPARISON OF NATIONAL INCOME BETWEEN COUNTRIES

4.3. - PROBLEMS OF COMPARISON OF NATIONAL INCOME BETWEEN TIME PERIODS

5. FACTORS AFFECTING NATIONAL INCOME

5.1. INTERNAL FACTORS

5.1.1. - QUALITY AND QUANTITY FACTORS OF PRODUCTION

5.1.2. - LEVEL OF TECHNOLOGICAL KNOWLEDGE AND USAGE OF MODERN TECHNOLOGY

5.1.3. - LEVEL OF SPECIALIZATION

5.1.4. - POLITICAL STABILITY

5.2. EXTERNAL FACTORS

5.2.1. - FOREIGN INVESTMENT

6. USAGE OF NATIONAL INCOME DATA

6.1. - TO MEASURE A COUNTRY'S RATE OF ECONOMIC GROWTH

6.2. - TO MEASURE THE TOTAL CONTRIBUTION OF ECONOMIC SECTORS TO TOTAL NANTIONAL PRODUCTION

6.3. - ECONOMIC PLANNING

6.4. - TO MEASURE A COUNTRY'S GENERAL STANDARD OF LIVING

6.5. - TO SHOW OR INDICATE THE SUCCESS OR FAILURE OF GOVERMENT POLICIES