Measures of national income and output

WHAT IS ECONOMIC GROWTH From two perspective we can interpret economic growth of an economies (Mankiw & N. G. R. E. G. O. R. Y, 2014). 1. The most popular way to define economic growth as the total increase of output which an economy produce over a given period of time , but time constraints at least two year . 2. Secondly we can define economic growth as increase in what a nation can produce if it is using all the scarce resources it has. Economic growth can be shown by an outward shift in…

Medicaid. Summary Medicaid in the United States can be described as a social health care program for families and persons with inadequate resources and low income (Institute for Healthcare Improvement). Maryland is operating a state program referred to as Maryland Health Benefits Exchange, which is meant to expand Medicaid coverage to low-income adults. The state of Oregon has taken this program seriously to benefit American citizens living in Oregon. This has led to the state to embark on…

wages are not realistically flexible. Labours will not be willing to accept lower wages and this will cause involuntary unemployment to persist longer. Say’s law was also challenged .although he acknowledge that revenue from production creates an income, it does not happen instantaneously. Example when householders have more they spend more and when they have less they would spend less. He recommended that government can have a vital role to mitigating the aptitude and time the economy takes to…

appropriate structural and social measures that promote macro-economic stability essential for economic growth and poverty alleviation. High-income countries are urged to support these initiatives through increased aid, debt relief, experience exchanges e.g. on policy making and good governance, liberalized market access for products of importance to low-income countries, and increased resources for the fight against communicable diseases. However, many low-income countries already face…

consequences, and when inequality becomes unjustified. As a famous economic historian, Richard Tawney once noted: “What thoughtful rich people call the problem of poverty, thoughtful poor people call with equal justice a problem of the riches” [2]. Income inequality has been rising for almost four decades now [3]. This paper aims to…

When thinking about problems in the economy, inflation may be one of the most popular topics. However, deflation may be just as damaging, if not, more damaging than inflation. When deflation occurs, the consumer, the government, and the global economy are all effected. Not all deflation cases are negative, but the ones that are negative are the ones that the policy makers have to focus on and try to prevent. Deflation comes in two different forms. One kind of deflation is malign deflation.…

2015) likes in Halal Excellence Awards 2014, National Annual Corporate Report Awards (NACRA) 2014, Malaysia Books of Records-…

main difference between a structural stagnation and secular stagnation is secular stagnation affects the workers in a given country experiencing no economic growth while structural stagnation affects both unemployment in the country and constrained outputs in a global outlook. Some of the major headwinds of secular stagnation include decreasedspendingby both households and investorsas a whole and high rates of unemployment due to luck of jobs. In this case, as argued by Alvin Hansen, firms hold…

concerned with the material and financial aspect i.e. income of the individual. It is measured in per Capita income and GDP. • Growth is Natural term, by certain time it will happen without any forces. • Growth of an economy means increase in production for market or any institution. • Growth may lead to development. But is not necessary. • Growth is concerned with increase in the economy's output. Development • Development is qualitative. It measures of Individual happiness. • Development…

is exporting less to other countries than importing creating national debt since we have not paid for those goods and services. The nation’s debt comes at cost in form of interest paid on the borrowed money which could be used to grow our economy. Government generally raises taxes to pay for debt which results in…