total expenditure, total income, and value of production

Related BrainMass Solutions

• Success of Economy

  The reason is that the total value of output of goods and services, commonly known as the gross national product must equal the gross national income or the total income that is paid to producers and this must match the total expenditure on goods and

• The Importance of National Income Accounting

  There are basically two ways of measuring national economic activity: as the money value of the total production of goods and services during a given period (usually a year) or as the total of incomes derived from economic activity after allowance has

• Calculating GDP using the Income Approach

  It is sometimes regarded as the sum of profits added at every level of production (the intermediate stages) of all final goods and services produced within a country in a stipulated timeframe, and it is rarely given a monetary value.

• Multiple choice questions

  will the club's Income and Expenditure account show?

• balance of payments deficit correction

  The absorption approach emphasis changes in real domestic income as a determinant of a nation's balance of payments and exchange rate. P = domestic production of goods and services or total income.

• calculation of GDP

  It is sometimes regarded as the sum of profits added at every level of production (the intermediate stages) of all final goods and services produced within a country in a stipulated timeframe, and it is rarely given a monetary value.

• GDP growth rate

  The argument is that the value of the total product must be bought by someone; therefore the value of the total product must equal total expenditure. Similarly, the value of all production must be the same as the value of the producer's incomes.

• Operating system using standard absorption cost: Anderson Ltd.

  At the start of the year, the management of Anderson Ltd. estimated that its costs would be: Direct labor 8% sales value Direct material 50% sales value Variable production overhead 8% sales value Fixed production overhead 12% sales value Administration

• Regression analysis: market specialist is analyzing household budget data

  The intercept value 39.1494 can be interpreted as the fixed expenditure on healthcare irrespective of the income of the family.