Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
|
GDP (Gross Domestic Product) |
Monetary value of all goods and services produced within the geographical boundaries of a country |
|
|
GNP (Gross National Product) |
= GDP (+/-) Net Factor Income from Abroad |
|
|
NDP (Net Domestic Product) |
= GDP - Depreciation |
|
|
NNP (Net National Product) |
= GNP - Depreciation |
|
|
Depreciation |
Continual consumption of production machinery in the course of operation |
|
|
Market Price |
= Factor Cost + (Indirect Taxes - Subsidies)
Subsidies > Indirect Taxes |
|
|
Growth |
Increase in GDP at factor cost at constant prices |
|
|
Methods of National Income Measurement |
1) Value Added Method / Output Method 2) Income Method 3) Expenditure Method |
|
|
Value Added Method for NI measurement |
= GDP(MP) - Net Indirect Taxes (+/-) NFIA - Depreciation = NNP(FC) |
