Measures of national income and output

last decades in particularly, women in industrialized countries have gained equal rights and opportunities and by now even exceed men in educational achievements. It still exists though a large difference, which is less easy to measure, in labour force participation, income and power. For…

Economic growth is the change of national income usually measured by real GDP(gross domestic product). Economic growth rates have fluctuated over the years and closely been related to economic construction and expansion regarding employment, inflation. Especially, sustainable, high economic growth is one of main objective pursued by most of governments. There is global hot issue associated with economic growth. Recently, China recorded 6.8% of GDP which is lowest figure since 2009 and has…

Although economic indicators, such as GDP and personal income, clearly mark periods of economic decline or growth in modern times, economic data has not always been available to accurately measure these indicators. In such cases economist turn to proxies to try and glean information about the economy of a certain time period. One such proxy is the State of the Union Address, given annually by the president of the United States. The President consistently addresses the economic situation during…

Based on the views expressed by McNicoll (1984), World Bank (1984), and National Research Council (1986 cited in Kelley, 1988), I argue that the underdevelopment of Africa (as measured by per capita output) is caused by rapid population expansion. The negative effects of rapid population's growth on economic growth and development occurred in situations where arable land and water becomes scarce or costly to acquire, rights to land and natural resources are poorly defined, and government…

Analysts claim that China will eventually surpass the United States in economic superiority. Due to economic, technological power and rapid growth, China is creeping towards the United States of America (U.S.) at an alarming rate (Garver). China has experienced high growth rates and is viewed as the largest exporter of goods and services. The U.S. has continued to support the rise of China’s power with friendly relations and perceives China as a peaceful country (Garver). The economic dominance…

contributing factors to obesity (both childhood and adult), such as biological, environmental, social, or economic factors. The growing level of obesity is believed to hold numerous health and economic consequences. According to the surgeon general and the National Institutes of Health, overweight and obese individuals are at increased risk for hypertension, dyslipidemia, stroke, gout, and certain types of cancer, psychological disorders, and other ailments. Let me discuss some of the effects of…

some parts of the society. - it does not describe wealth distribution. Wealth distribution is very important in describing the wealth of the society. Not all the people can always benefit from an increased economic output. - it does not describe what is being produced. It measures the value of all finished goods and services within an economy, it also includes products that may have negative effects on social welfare. - it ignores the effect of increased exploitation of renewable and…

Improving a country’s standard of living aims to increase the degree of wealth and comfort that a group of people in a certain geographic area experience by promoting economic growth. The standard of living takes into account many factors, some being; income gap, unemployment rate, poverty level, inflation rate, and gross domestic product. Gross domestic product or GDP is the sum of a country’s consumption, investment, government spending, and net exports. The most common measurement of a…

Intro: Australian economy. Australia is classified by the World Bank as a developed country because its gross domestic product was US$1015 billion in purchasing power parity terms in 2008. Its per capita income was US$37,250 per annum, ranking it 11th highest in the world in terms of per capita income. The main sectors of the Australian economy include agriculture, forestry, fishing, mining, manufacturing and service. Indonesian economy. Indonesia is a much larger country than Australia with a…

the 1960s with its first and only TV Assembly plant in Southeast Asia. And today, Singapore Electronic Industry has become the backbone of Singapore’s economy, contributing 5.3% of the Gross Domestic Product (GDP) in 2013, 29% of total manufacturing output, and employed 80,000 workers, representing 19% of the total manufacturing labour force in Singapore (EDB, n.d). Due to the fragmentation of electronics production across East Asia and the loss of competitiveness in lower-end assembly…