This document provides an introduction to macroeconomics and national income accounting. It discusses key concepts such as GDP, GNP, NNP, the income, expenditure, and value added methods of measuring national income. The document also covers Keynesian economics, the factors that influence national income, and the limitations of using national income statistics.
Examine the composition of national income (or national output);
Study the concepts of Gross National Product (GNP) and Gross Domestic Product (GDP), and differentiate between the two measures;
Look at the two approaches to measuring GDP and GNP;
Learn the differences between real and nominal output: and
Learn what economists use to determine whether the national economy is growing or not.
National income: concept, methods, Importance and challengesPankaj Bhaydiya
In this presentation you are going to know about the concept of national income, circular flow of income under four sector economy its methods, Importance and the challenges faced by government in calculation of national income
Examine the composition of national income (or national output);
Study the concepts of Gross National Product (GNP) and Gross Domestic Product (GDP), and differentiate between the two measures;
Look at the two approaches to measuring GDP and GNP;
Learn the differences between real and nominal output: and
Learn what economists use to determine whether the national economy is growing or not.
National income: concept, methods, Importance and challengesPankaj Bhaydiya
In this presentation you are going to know about the concept of national income, circular flow of income under four sector economy its methods, Importance and the challenges faced by government in calculation of national income
All the three methods of national income accounting are explained with mathematical questions and answers. It is very helpful for the NCERT and SCERT plus two commerce and humanities students who have to learn these methods in the second chapter of macroeconomics.
All the three methods of national income accounting are explained with mathematical questions and answers. It is very helpful for the NCERT and SCERT plus two commerce and humanities students who have to learn these methods in the second chapter of macroeconomics.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.
Introduction
In life, there are universal laws that govern everything we do. These laws are so perfect that if you were to align yourself with them, you could have so much prosperity that it would be coming out of your ears. This is because God created the universe in the image and likeness of him. It is failure to follow the universal laws that causes one to fail. The laws that were created consisted of the following: ·
Law of Gratitude: The Law of Gratitude states that you must show gratitude for what you have. By having gratitude, you speed your growth and success faster than you normally would. This is because if you appreciate the things you have, even if they are small things, you are open to receiving more.
Law of Attraction: The Law of Attraction states that if you focus your attention on something long enough you will get it. It all starts in the mind. You think of something and when you think of it, you manifest that in your life. This could be a mental picture of a check or actual cash, but you think about it with an image.
Law of Karma: the Law of Karma states that if you go out and do something bad, it will come back to you with something bad. If you do well for others, good things happen to you. The principle here is to know you can create good or bad through your actions. There will always be an effect no matter what.
Law of Love: the Law of Love states that love is more than emotion or feeling; it is energy. It has substance and can be felt. Love is also considered acceptance of oneself or others. This means that no matter what you do in life if you do not approach or leave the situation out of love, it won't work.
Law of Allowing: The Law of Allowing states that for us to get what we want, we must be receptive to it. We can't merely say to the Universe that we want something if we don't allow ourselves to receive it. This will defeat our purpose for wanting it in the first place.
Law of Vibration: the Law of Vibration states that if you wish on something and use your thoughts to visualize it, you are halfway there to get it. To complete the cycle you must use the Law of Vibration to feel part of what you want. Do this and you'll have anything you want in life.
For everything to function properly there has to be structure. Without structure, our world, or universe, would be in utter chaos. Successful people understand universal laws and apply them daily. They may not acknowledge that to you, but they do follow the laws. There is a higher power and this higher power controls the universe and what we get out of it. People who know this, but wish to direct their own lives, follow the reasons. Successful people don't sit around and say "I'll try," they say yes and act on it.
Chapter - 1
The Law of Attraction
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because th
circular flow of income,
meaning of national income,
concepts of national income,
methods & problems in measuring national income
concepts of agregate demand & agregate supply
This power point is all about highlighting the concept of National Income in the Indian context and various methods for its calculation. Further, various limitations of National Income are also underlined.
it include the medicinal plant sarapgandha scientifically called rauvolfia serpentina it cure problem of high blood pressure and important for diabetic paitents,this ppt includes its botany cultural practices and its use
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1. RANI LAKHMI BAI
CENTRAL AGRICULTURE UNIVERSITY
MACROECONOMICS INTRODUCTION
MADE BY MANISHA DUHAN
(RLBCAU002)
2. MACROECONOMICS
It deals with the aggregates(agregate
output ;agrregatesupply ;agriculture
demand ;agriculture income ; general
price level ; total employment ;
savings ;investment)
3. KEYNES GENERAL THEORY OF
EMPLOYMENT
Also known as “”keynesian revolution’” new
economics
Given in 1936 made a genuine break from the
classical and neoclassical economics.
A nation progress greatly depends on the
judicious selection of macroeconomics
policies such as level and structure of taxation
or expenditure.
4. APPLICATION OF MACROECONOMICS
Theory of income output and employment
(theory of consumption function and
investment function)
Theory of prices(inflation ;deflation ; reflation)
Theory of economic growth(developing and
developed countries)
Macro theory of distribution dealing with
relative shares of wages and profits in national
income)
5. NATIONAL INCOME
• National income is defined as aggregate
money value of goods and services produced
in a country during a year.
• It can be viewed as income distributed among
factors of production in form of rent, wages,
interest and profits.
6. CLASSICAL VIEW(N.I)
• ALFRED MARSHALL- it is defined as the labour
and capital of a country acting on natural
resources produce annually a net aggregate of
commodities.
• PIGOU-national income; income of community
including of course income derived from abroad
which can be measured in money.
• IRWING FISCHER-it consist solely of services as
received by ultimate consumers ; whether from
material or from human environment.
7. DEMERITS
• MARSHALL AND PIGOU APPROACH N.I FROM
PRODUCTION AND FISCHER FROM
CONSUMPTION END.
• Marshall –double counting of single good as
e.g silk coccon and silk cloth; amount not
reaching market is not counted(e.g the
product which farmer consume for its own)
• Pigou -barter system in underdeveloped
countries so not in form of money.
• Fischer-estimation of millions consumers
consumption is difficult ; problems in non
durable goods ; problems in measurement
8. MODERN VIEW
• SIMON KUZNETS-National Income the net
output of commodities and services flowing
during the year from the productive systems
in the hand of ultimate consumers.
• GROSS NATONAL PRODUCT(GNP)
• It is defined as the total market value of all
goods and services produced in a year.
• GNP is the measure of current output of
economic activity in a country
9. REAL GNP
• GNP at constant market prices is called real
GNP.
• A price index is a number showing the
changes in the overall level of prices.
• Real GNP=nominal GNP*(PRICE INDEX OF
BASE YEAR/PRICE INDEX AT CURRENT YEAR)
10. GDP
• THE AMOUNT OF OUTPUTS WHICH ARE
PRODUCED WITHIN THE DOMESTIC
BOUNDARY OF AN ECONOMY IN A SPECIFIC
PERIOD SAY A YEAR.
• GDP= GNP-(X-M)
• WHERE X-M IS NET FOREIGN EXCHANGE.
11. MEASURES OF GNP
• INCOME METHOD;EXPENDITURE METHOD
AND VALUE ADDED METHOD.(THREE
APPROACHES)
• GNP donot include price of intermediate
goods ; free and family services ; sell and
purchase of old goods , shares , buissness
units ; change in value of capital assets as a
result in change in market price ; transfer
income.
12. INCOME METHOD
• Wages/salary/rents/interest/income of non
company buisness/corporate profits/indirect
taxes/depreciation/transfer payments
• GNP includes all except transfer payment
which include pensions and unemployment
allownces.
13. EXPENDITURE METHOD
• Personal consumption/gross domestic private
investment/net foreign investment / govt.
expenditure on goods and services.
• GNP=C+I+(X-M)+G
• VALUE ADDED METHOD(the value of
intermediate goods used in manufacturing
industry should be deducted from final goods)
• ALSO CALLED FLOW OF OUTPUT(VAT).
14. INVESTMENT EXPENDITURE
• TWO PARTS:1) to buy new capital goods and
machinery for production.
• 2)consumption allowance or depreciation –
spent on maintenance of capital good
• Sum of two equal to GROSS INVESTMENT.
• Gross investment= net investment +
depreciation .
15. NET NATIONAL PRODUCT(NNP)
The amount in decline in the value of goods due
to wear and tear is known as depreciation.
NNP= GNP - DEPRECAITION
NNP at factor cost implies the sum of all
incomes earned by resource suppliers for their
contribution of land labour and enterpreneur
activity which go in net production in a year.
16. PERSONAL AND DISPOSABLE INCOME
It is the sum of all the incomes actually received by
all individuals or households during a given year
PI=NI- SOCIAL SECURITY –CORPORATE INCOME TAX-
CORPORATE PROFITS+TRANSFER PAYMENTS.
DI=PI- PERSONAL TAXES or CONSUMPTION
EXPENDITURE +SAVINGS
It is the amount of money available with the private
individuals to spend.
17. FACTORS AFFECTING N.I
• FACTORS OF PRODUCTION :land , labour ,
capital
• Technology :most imp. for country having less
natural resources ; invention and innovation in
production.
• Government : favourable business
environment ,laws and regulations.
• Political stability: no wars ,strikes , social
unrests.
18. USE OF N.I STATISTICS
STANDARD OF LIVING OF COUNTRY
POLICY FORMULATIONS
INTERNATIONAL COMPARISON
BUISNESS DECISION
19. LIMITATIONS
• PRICE CHANGES
• VOLUNTARY SERVICES- HOUSEHOLD ACTIVITY
ARE NEGLECTED IN GNP.
• ILLEGAL ACTIVITIES:D DRUG TARRIFING
;GAMBLING
• POPULATION SIZE;POLLUTION
CONGESTION(DECREASES STD. OF LIVING)
• UNEVENLY DISTRIBUTION OF NATIONAL INCOME.
• WITH TIME TECHNOLOGY IMPROVEMENT AND
DURABLE GOODS WELFARE NOT SHOWN BY N.I.