Gross income

As we learned in chapter six and seven of macroeconomics textbook by Krugman & Wells, GDP is a measure of the wealth of a country. It is an abbreviation of the Gross Domestic Product. GDP is the value of all outcome of goods and services in a country during a particular time. GDP shows how wealthy a country is and how much the economy was active during a given period. “GDP is important because it is a leading indicator of a country 's economic health. It gives economists an idea of the nation…

Comparison of the Australian and Indonesian economy 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.…

Dakota Wensley Bus 101 Gross domestic product (GDP) is a measure of the value of all the goods and services produced in one year in a country. It can be determined by taking the total sum of how much people have spent over a given period or conversely by taking the sum of how much people have earned, both produce the same amount. The former is a lot more common and it can be determined by taking the sum of total consumption, government spending, investments, and net exports (GDP=C+I+G+(X-M). GDP…

GDP, and American workers have some of the highest average household incomes in the world. Unfortunately, the gap between the wealthy and poor is also larger in the United States than anywhere else in the world. The overall financial picture for the United States, as of 2014, included $269.6 trillion of assets owned by households, businesses, and governments within America's borders. That represented 15.7 times the annual gross domestic product of the United States that year. On the other hand,…

situation over a period of time. When we adjust the economic growth, usually look at the total income that everyone in the economy is earning. There are usually two ways to measure economic growth, GDP and GNP. 2) GNP (gross national product) refers to a country 's nationals have all the elements of production in a certain period of time produced by the final product of the market value. By contract, GDP, gross domestic product…

5 most important economic variables (1) GDP (2) Interest rate (3) Personal income and consumption (4) Debt (5) Inflation 【GDP】The gross domestic product (GDP) is one of the most important indicators to evaluate the condition of a country 's economy. It represents the total dollar value of all goods and services produced over a specific time period; thus the size GDP would also indicate the size of the economy of the country. Normally, GDP is used to compare with the previous quarter or year’s…

to pay one 's debts in a timely manner. An Income statement presents the financial results of a business for a stated period of time. The income statement is an essential part of the financial statements that an organization releases. It itemizes…

earnings, and income statement) that are reviewed and analyzed on a regular basis that display an organization economic wealth and health. • Balance Sheet – will permit the viewer to determine the net worth of an organization via seeing: o Total assets, debt, and owner/stockholder’s equity • Income Statement – one will ascertain the both current and past performance of a company via displaying: o Gross income o Adjusted gross income (gross income – cost of goods sold) o Operating income…

INTRODUCTION Imputation System is one of the tax system in New Zealand in which the tax paid on the same income earned by two parties can be transferred from one party to another. That means tax is only paid by one party, other party gets the benefit of the tax paid by first party. It 's all about relating to companies and their shareholders. Companies pays the tax on the profit, and shareholders gets the benefit. It eliminates the issue of Double Tax. Imputation System took effect from 1989…

today’s society, but gender and income has also played a key role as well. Social stratification involves hierarchical differences not only in economic positions, but also in other important areas, such as status, or social honor, and power (Ritzer, 150). A major concern in the sociological study of stratification is inequality, a condition whereby some positions in society yield a great deal of money, status, and…