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Table Of Contents

INDUSTRIAL CLASSIFICATION
Primary Sector
Secondary Sector
Tertiary Sector
NATIONAL INCOME AGGREGATES
Net Domestic Product
Domestic product at Factor Cost
Net Domestic Product at Factor Cost
Summing up
METHODS OF ESTIMATION OF NATIONAL INCOME (N.I.) AND OTHER RELATED AGGREGATES
(I) Production method (value added method)
(2) Income distribution method
(3) Final expenditure method
PRECAUTIONS IN MARKING
ESTIMATES OF NATIONAL INCOME
(1) Value added (Production) method
(i) Avoid double counting
(ii) Do not include sale of second hand goods
(iii) Self-consumed output must be included
(i) Avoid transfers
(ii) Avoid capital gain
(iii) Include income from self-consumed output
(iv) Include free services provided by the owners of the production units
(i) Avoid intermediate expenditure
(ii) Do not include expenditure on second hand goods and financial assets
(iii) Include the self use of own produced final products
(iv) Avoid transfer expenditures
DISPOSABLE INCOME
National Disposable Income
Disposable income aggregate of the private sector
NDPfc
= NDPfc accruing to the private sector
= Private Income
= Personal Income
= Personal disposable income
Consumption and Savings
Average Propensities to Consume and Save
2. Demand for Private Investment
Determination of Equilibrium Level of Output, Income & Employment
Consumption plus Investment Approach
The Adjustment Mechanism
Output Determination Using the Savings Function and the Investment Schedule
Saving Function
Investment Schedule
Equilibrium Output
Meaning of the Equilibrium
In equilibrium planned expenditure and planned output must be equal
The Multiplier
Problems of Excess and Deficient Demand and Measures to Correct Them
Problem of Deficient Demand
Problem of Excess Demand
Remedy for Deficient Demand
Fiscal Policy Measures
Monetary Policy Measures
Remedy for Excess Demand
Reduce Government Expenditure
UNIT 8
EVOLUTION OF MONEY
BANKING
Commercial Banks
1. Acceptance of Deposits
2. Giving Loans
3. Overdrafts
4. Discounting Bills of Exchange
5. Investment of funds
6. Agency Functions of the Bank
7. Miscellaneous Functions
The Central Bank
1. Currency Authority
2. Banker to the Government
3. Bankers’ Bank and Supervisor
4. Controller of Money Supply and Credit
UNIT 9
Capital receipts and revenue receipts
Capital expenditure and Revenue expenditure
Implications of fiscal deficit
UNIT 10
Merits and demerits of fixed and flexible foreign exchange rates
Merits of fixed exchange rate:
Demerits of fixed exchange rate:
Merits of flexible exchange rate system
Demerits of flexible exchange rate system
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National Income Accounting

National Income Accounting

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Published by: scorpio_09 on Nov 12, 2011
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05/07/2013

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