LEARN MORE...

Measuring Domestic Output And National Income...

Content type

User Generated

Subject

Economics

School

Florida State College at Jacksonville

Type

Homework

Uploaded By

qbhtc758

Pages

4

Showing Page:

1/4

Sign up to view the full document!

Showing Page:

2/4

Sign up to view the full document!

Showing Page:

3/4

Sign up to view the full document!

End of Preview - Want to read all 4 pages?

Unformatted Attachment Preview

Running head: MEASURING DOMESTIC OUTPUT AND NATIONAL INCOME Measuring Domestic Output and National Income Student’s Name Institutional Affiliation Date 1 MEASURING DOMESTIC OUTPUT AND NATIONAL INCOME 2 Section 1 Confused The most confusing thing in chapter seven is about the way GDP is measured. As explained in the chapter, the focus of GDP mostly assumes some parts of the informal part of a country. In most parts of the world, informal sectors are very significant to the stability of the nations. Therefore, GDP seems not to be inclusive enough in making conclusions about a country's stability. The second factor confusing in the chapter regards the use of expenditure on services and goods to find GDP. At times, the factors meant for use in production services don’t end up to the intended purposes. For instance, fuel used in transportation can get wasted during traffic jams. It is confusing why such wasted resources get accumulated to calculate GDP. The third factor that confuses me in chapter seven is the means of deriving national income. It confuses how the taxes made on production are made accurate. Some production services done at subsistence level are not taxed. Als ...
Purchase document to see full attachment

Tags: macroeconomics economics ECO2013

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Studypool

4.7

Indeed

4.5

Sitejabber

4.4

24/7 Study Help

Stuck on a study question? Our verified tutors can answer all questions, from basic math to advanced rocket science!

Post question

5 pages

Buy American Campaign

Many countries in the world engage in international trade where they trade with other countries either through importing o ...

Buy American Campaign

Many countries in the world engage in international trade where they trade with other countries either through importing or exporting goods. Countries ...

Abraham Baldwin Agricultural College Retirements Account Asset Allocation Discussion

For this Discussion Board, please complete the following: Take this easy quiz on your personal tolerance for investm ...

Abraham Baldwin Agricultural College Retirements Account Asset Allocation Discussion

For this Discussion Board, please complete the following: Take this easy quiz on your personal tolerance for investment risk. How would a 25-year-old’s recommended retirement account asset allocation differ from a 60-year-old’s when it comes to a mix of stocks and bonds? Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 50–100-word reply about their Primary Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following question: What differences or similarities do you see between your posting and other classmates' postings? First Student: Juli. I will be 100% honest in saying that I am at a loss when it comes to this. I have no idea what most any of it means and am ashamed to say this because of my (old) age. It is something that I think about a good bit, but don't have the money to invest to even start to save for my retirement. I assume that a 25 year old's risk would be much greater due to the investments made being significantly lower than that of an older person. I would assume that if someone that is sixty had been investing in stocks and bonds since they were 25, they would be at a lower risk because of the actual investments that they have made over all of the years. I am totally embarrassed not to know anything about this and it makes me wonder how I will make it once I do retire and how much I need to learn so that I may instill this type of wisdom in my (young) children so that they will not follow in my footsteps and make the obvious same mistakes that I have made by not making this a high priority. I actually picked the planning for retirement topic in the last discussion board because it is something I simply know nothing about. I hope that I can take some much needed knowledge on this topic away from this course in the time we have left of it. I honestly have no idea anything about retirement plans. I know I should be worried about it especially with my age, but some weeks honestly, it's hard to make sure regular bills are paid. I do think when your younger now days that you understand retirement plans and stocks and bonds better. I think that with today's generation it's something you have to learn while you're going to school that we didn't have to learn. Now that I am learning about it though I do wish I had learned about it when I was just starting out so I could be better prepared now. I still have a lot of time before retirement age and it's never too late. I think the difference between a twenty-five-year old's and a sixty-year old's plan is the older you are the less time you have to prepare for retirement. I think with all the pressure will your older can cause more mistakes then if you were younger and had more time to plan. I hope to learn how to plan better for my retirement while taking this class.

5 pages

Eco 204 Week 3 Discussion.edited

Distinguish between the short run and the long run. What will differentiate the short In economics, the short run is a per ...

Eco 204 Week 3 Discussion.edited

Distinguish between the short run and the long run. What will differentiate the short In economics, the short run is a period characterized by a fixed ...

ECON 210 Embry Riddle Aeronautical University Swagelok Company Analysis

Now, you get the opportunity to talk about the difference between the two types of structures with your colleagues. Locate ...

ECON 210 Embry Riddle Aeronautical University Swagelok Company Analysis

Now, you get the opportunity to talk about the difference between the two types of structures with your colleagues. Locate a firm in the U.S. or in the country where you reside and distinguish the difference between factor markets and product markets. Examine how households influence factor markets and discuss.Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, newspapers, new stations, or other credible sources to discuss how your topic aligns with microeconomics. Include the following in your discussion:State the article or event you selected.Identify the microeconomic concept(s).Describe your findings.Analyze the relevance to real-life applications.Summarize your findings using at least 250 words and provide a minimum of one reference. Use current APA formatting to document your sources.

13 pages

Market failure is one aspect of the economy that determines the outcome of the lack of maximization of the net benefits of ...

Market failure is one aspect of the economy that determines the outcome of the lack of maximization of the net benefits of market activities within ...

39 pages

Effects of Manufacturing Technology on Human Labour in the UK. The world has experienced a technological storm in recent t ...

Effects of Manufacturing Technology on Human Labour in the UK. The world has experienced a technological storm in recent times. Technological growth ...

Similar Documents

Are the rich getting richer and the poor getting poorer still today?, term paper help

plz just follow the require in the word. thanks....

FIN 101 Saudi Electronic University Wealth Management Risk Planning Discussion

VID: https://youtu.be/BPJ2UW13CCg Discussion The CEO of “The Family Office” is talking about the ro...

Write a short, concise memo, 5 pages about RX-Bar and PowerPoint slides (7-10)

Write a short, concise memo, 5 pages about RX-Bar (not including any exhibits; exhibits are encouraged and do not count to...

Cobb Douglas Production Function Questions

QUESTION (5 marks) In Chapter 6 and 7 we have discussed the role of education in creating human capital and its impact on ...

ECO 202 Cornell University Calculation of Consumer Surplus Economics Questions

ECO202 Economic Ideas and Models for Business Tutor-Marked Assignment July 2022 Presentation ECO202 Tutor-Marked Assign...

please see attached.

Graded Discussion Week 7Please note that if you edit your initial response (Original Post), you will not get credit for th...

21301770 Bitcoin Digital Currency

The world is experiencing numerous technological advancements in all aspects of life. The various areas that are witnessin...

Competence in public service is an important part of service delivery. In the article, a study was done to identify the be...

Study help

Our tutors provide high quality explanations & answers.

Post question

5 pages

Buy American Campaign

Many countries in the world engage in international trade where they trade with other countries either through importing o ...

Buy American Campaign

Many countries in the world engage in international trade where they trade with other countries either through importing or exporting goods. Countries ...

Abraham Baldwin Agricultural College Retirements Account Asset Allocation Discussion

For this Discussion Board, please complete the following: Take this easy quiz on your personal tolerance for investm ...

Abraham Baldwin Agricultural College Retirements Account Asset Allocation Discussion

For this Discussion Board, please complete the following: Take this easy quiz on your personal tolerance for investment risk. How would a 25-year-old’s recommended retirement account asset allocation differ from a 60-year-old’s when it comes to a mix of stocks and bonds? Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 50–100-word reply about their Primary Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following question: What differences or similarities do you see between your posting and other classmates' postings? First Student: Juli. I will be 100% honest in saying that I am at a loss when it comes to this. I have no idea what most any of it means and am ashamed to say this because of my (old) age. It is something that I think about a good bit, but don't have the money to invest to even start to save for my retirement. I assume that a 25 year old's risk would be much greater due to the investments made being significantly lower than that of an older person. I would assume that if someone that is sixty had been investing in stocks and bonds since they were 25, they would be at a lower risk because of the actual investments that they have made over all of the years. I am totally embarrassed not to know anything about this and it makes me wonder how I will make it once I do retire and how much I need to learn so that I may instill this type of wisdom in my (young) children so that they will not follow in my footsteps and make the obvious same mistakes that I have made by not making this a high priority. I actually picked the planning for retirement topic in the last discussion board because it is something I simply know nothing about. I hope that I can take some much needed knowledge on this topic away from this course in the time we have left of it. I honestly have no idea anything about retirement plans. I know I should be worried about it especially with my age, but some weeks honestly, it's hard to make sure regular bills are paid. I do think when your younger now days that you understand retirement plans and stocks and bonds better. I think that with today's generation it's something you have to learn while you're going to school that we didn't have to learn. Now that I am learning about it though I do wish I had learned about it when I was just starting out so I could be better prepared now. I still have a lot of time before retirement age and it's never too late. I think the difference between a twenty-five-year old's and a sixty-year old's plan is the older you are the less time you have to prepare for retirement. I think with all the pressure will your older can cause more mistakes then if you were younger and had more time to plan. I hope to learn how to plan better for my retirement while taking this class.

5 pages

Eco 204 Week 3 Discussion.edited

Distinguish between the short run and the long run. What will differentiate the short In economics, the short run is a per ...

Eco 204 Week 3 Discussion.edited

Distinguish between the short run and the long run. What will differentiate the short In economics, the short run is a period characterized by a fixed ...

ECON 210 Embry Riddle Aeronautical University Swagelok Company Analysis

Now, you get the opportunity to talk about the difference between the two types of structures with your colleagues. Locate ...

ECON 210 Embry Riddle Aeronautical University Swagelok Company Analysis

Now, you get the opportunity to talk about the difference between the two types of structures with your colleagues. Locate a firm in the U.S. or in the country where you reside and distinguish the difference between factor markets and product markets. Examine how households influence factor markets and discuss.Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, newspapers, new stations, or other credible sources to discuss how your topic aligns with microeconomics. Include the following in your discussion:State the article or event you selected.Identify the microeconomic concept(s).Describe your findings.Analyze the relevance to real-life applications.Summarize your findings using at least 250 words and provide a minimum of one reference. Use current APA formatting to document your sources.

13 pages

Market failure is one aspect of the economy that determines the outcome of the lack of maximization of the net benefits of ...

Market failure is one aspect of the economy that determines the outcome of the lack of maximization of the net benefits of market activities within ...

39 pages

Effects of Manufacturing Technology on Human Labour in the UK. The world has experienced a technological storm in recent t ...

Effects of Manufacturing Technology on Human Labour in the UK. The world has experienced a technological storm in recent times. Technological growth ...