Measuring Economic Activity Measuring National Income National Income= Total Income of an Economy= Total Output Most common measure is GDP…
Economic Background BOTSWANA. Remember - per capita Gross Domestic Product the per-head value of final goods and services produced within a nation’s boarders.
CHAPTER 11 MEASURING NATIONAL ECONOMIC PERFORMANCES.
NATIONAL INCOME Macroeconomics TOPIC 1 NI is the value of all goods and services produced in the economy in a year. It measures the economic performance.
Measuring Economic Activity It is also called NATIONAL INCOME ACCOUNTING. Why should we measure? - Observe a country’s performance over time. - Compare.
Chapter 11
