national income
Help!
|
|
||||
|---|---|---|---|---|---|
| National income definition | the total amount of income earned by everyone in a country as a result of economic activity over a year
🗑
|
||||
| methods of calculating NI | 1. Income method
2. Output method
3. Expenditure method
🗑
|
||||
| Net factor income from the rest of the world | This is the difference between money repatriated (in) by Irish firms abroad, and the money repatriated (out) by foreign firms working in Ireland.
🗑
|
||||
| Transfer payments | money given with no return of goods or services. This is seen with social welfare benefits.
🗑
|
||||
| The income method | This involves the adding up of all incomes earned by all 4 factors of production
1. Benefits in kind
2. net factor income
3. Pensions
4. Transfer payments
🗑
|
||||
| The expenditure method | The total value of the purchasing of goods and services made by firms, individuals and the government over a year.
🗑
|
||||
| GDP @ factor cost | The total value of the output of an economy due to the engaging in economic activity, valued at the payments made to the factors of production.
🗑
|
||||
| GDP @ Market prices | The total value of the output produced by an economy over a year due to engaging in economic activity, valued at current market prices.
🗑
|
||||
| GNP | The total value of the
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
1801068583361003
Popular Economics sets