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National Income Accounting

Question

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Does GNP measure national welfare?

Solution

Although GNP is considered a good indicator of economic welfare (not total welfare) but it is not an adequate measure of national welfare.

Some More Questions From National Income Accounting Chapter

Briefly explain the following basic concepts related to NI:
Domestic (Economic) Territory

Briefly explain the following basic concepts related to NI:
Normal Residents

Briefly explain the following basic concepts related to NI:
National Income at Current and Constant Prices (Nominal and Real NI).

Briefly explain the following basic concepts related to NI:
Consumption of Fixed Capital (Depreciation).

Briefly explain the following basic concepts related to NI:
Factor Cost vs. Market Price (or Net Indirect Taxes)

Briefly explain the following basic concepts related to NI:
Net Factor Income from Abroad (NFIA)

Briefly explain the following basic concepts related to NI:
Value of Output vs. Value Added

Briefly explain the following basic concepts related to NI:
Factor Payment (Income) vs. Transfer Payment (Income)

Briefly explain the following basic concepts related to NI:
Sources of Domestic Income

Briefly explain the following basic concepts related to NI:
Sectors of an Economy

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