Gross national income

Income Tax - Assessment 1A - 1. To decide whether a person is classed as employed or self-employed, HMRC will apply tests to that person’s situation in order to make a decision. There are 7 main criteria for establishing a person’s situation: control, financial risk, equipment, work performance and correction, holidays, sickness and exclusivity. Control establishes how much control the person who is paying for the work has over the person employed to do the work. In this case Katy completes…

market economies, but while Australia’s economy is well developed and has a large proportion of government interference helping to make Australia one of the most desirable nations to live in, Indonesia’s economy is less advanced with a lower level of income per capita and a lower standard of living than Australia. Though Australia is four times larger than Indonesia, Indonesia’s population is ten times that of Australia’s. Australia is also a highly industrialised economy because it’s GDP ranked…

After the election was called in favor of Donald Trump, many began to question the direction our nation would take, but it was widely perceived that we would move backwards due to his slogan “Make America Great Again.” It is commonly known, although not widely acknowledged, that America was not initially designed for the minorities to flourish. Our government was established to grant the white male all possession of political power, so moving backwards is clearly not an option, and stagnation is…

government reforms. A big part of India’s high growth prospect lies in the word “convergence.” In 2015, India’s Gross National Income per capita was $1,590, ranked 170th out of 217 countries (World Bank, 2016). Because India’s per-capita income is relatively low comparing to others at a comparable level of market development, there is a tremendous opportunity to grow and catch up. Average income in India is at a similar level as that of Sub-Saharan African countries. However, the country has…

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…

greatest “super cities” in the fashion society. London, as of 2011, is ranked as the number one global fashion city because it is one of the most powerful economic cities with leading financial centers. It is considered a superstar city on a global and national scale. It is in competition with other cities such as Paris, Milan, and New York City that all have a high reputation when it comes to fashion (Johnson, 2012). Fashion has a huge part in structuring London’s economy by leaving an…

Introduction Nigeria holds a vast history by holding a steak in early civilizations of renowned artistry. By being the most populous country in Africa Nigeria is the eight most populous country in the world. Nigeria’s physical geography is very unique and has potential for being a powerful country. Nigeria has a vast array of issues however with creative reform policies and support it could develop into a great nation. Physical Geography Nigeria is located in West Africa neighboring Benin,…

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…

an important role in the national income. A sustainable economic growth of a country is desired as it plays a role in the provision of labor and other economic factors. Economists as both scientists and policymakers Economists develops hypothesis and models that can be confirmed using a set…

there will not physically be more t-bills printed there will be money available to consumers other ways such as credit cards. There is a fall in price level which causes aggregate demand to shift to the left. Eventually, the price of wages and income will fall. As aggregate supply will increase, producers will produce more. Longer-Run U.S. Growth…