Measures of national income and output

However, its growth rate so far has never been as high as its neighboring countries. As illustrated in the chart, ever since 1990, there is no breakthrough in Vietnam’s GNI PPP. While Thailand and Philippines have been experiencing high growth rate and economic boom. They have outstripped Vietnam by approximately 400 billion PPP dollars by 2013. Per capita Income The GNI per capita is the dollar value of a country 's final income in a year, divided by its population. It reflects the average income of a country 's citizens. Vietnam’s GNI per capita reached the highest ever with 5,070 PPP US dollars by 2013. It is also similar to the total GNI, which is a gradual upswing. In comparison to the other countries in South East Asia such as Indonesia and Cambodia, Vietnam’s GNI per capita is average. According to World Bank, in 2014, Vietnam ranked 152nd worldwide with 5,350 PPP US dollars. Disposable income per capita has been steadily rising in real terms as the economy has grown. In 2010, it was 819 US dollars. Income varies widely across different regions of the country. Per capita consumer expenditure has risen in line with disposable…

country’s overall output of goods and services at market prices, excluding net income from abroad.’ There are three ways it can be estimated, expenditure basis-the amount of money spent, output basis-the amount of goods and services sold, and income basis-the amount of money earned. The estimates are published on a quarterly basis. (GDP 2016) The most common way the gross domestic product is expressed, as a comparison to the previous year or quarter. An example of this is if the year-to-year…

Content Vocabulary 1. Write a paragraph or two explaining how economists measure the U.S. economy. Use all of the following terms. The way economist usually measure the national economy’s performance is by using national income accounting (PG. 336), This area of economics deals with the overall economy’s output, or production, and its income. Five major statistics measure the national economy. These are gross domestic product (PG. 337), net domestic product (PG. 338), national income,…

Thirlwall’s growth model: Thirlwall in his model argues that for true form of growth to exist the growth must be export oriented and there should be balance of payment equilibrium. As a starting point he takes the (Keynesian) demand-turned approach to know the major limitations on demand. He argues that instead of national income (output) being the sum of investment, consumption expenditure and exports, minus imports, it should be in growth perspective that national income growth be the weighted…

product and gross national product are essential to have for any country. Not only do they aid us economically, it helps us plan national spending and shows us which areas need attention, for example which areas of government spending need to be adressed. GDP stands for gross domestic product. Gross domestic product is a monetary measure of the value of all final goods and serviced produced in a peiod of time, for example quarterly or yearly. This is exclusive to a particular country. GNP…

Gross National Product (GNP) and Gross Domestic Product (GDP) are the indicator that studied the strength and weakness of an economy. There is many differences between them. The principle distinction in the middle of GDP and GNP is that GDP refers to the business sector estimation of merchandise or administrations delivered in a nation barring remote generation in a given period of time, typically a year. GDP: Gross domestic product or just GDP implies the business sector estimation of the…

R_t= Real exchange rate 〖Y_t〗^f= Foreign income captured by GDP per capita of major trading partners 〖Ag〗_t= Agricultural GDP over the years under study I_t= Real interest rate ε_t= Stochastic disturbance term For estimation purposes, model (1) can be linearized by use of the double-log as follows: LnX=β_0+β_1 Ln〖(R〗_t)+β_2 Ln〖〖(Y〗_t〗^f)+β_3 Ln〖(Ag〗_t)+β_4 Ln(I_t )+ε_t …………………………………2) The coefficients in the above log linear model are interpreted as elasticity (percentage change in…

population and labour force growth can be measure in real Gross Domestic Product(GDP) per capita. On the other hand Economic development refers to the process of structural change required in an economy for economic growth to happen, can be measured in Gross National Product(GNP) per capita. The Chinese Economy has implemented many strategies to accelerate economic…

America also has a very great effect on the history of America. The Emancipation facts make it stand out in the history of America (Krensky, 2012). This Proclamation as a war measure was applied by Lincoln with a sole intention to cripple the Confederacy while still very careful to respect the limits of his authority. He applied this to the southern states that were…

2.1.7 Consequences of Unemployment in Iraq The consequences of unemployment for the individual are financially and often emotionally destructive. The consequences for the economy can also be destructive if unemployment rises above 5-6%. When many people are unemployed, the economy loses one of its key drivers of growth -- consumer spending. Quite simply, workers have less money to spend until they find another job. If high national unemployment continues, it can deepen a recession or even cause…