Sunday, April 14, 2013

National Income

Abstract

Gross Domestic Product is the most important economic variable, and because much time and efforts are dedicated to its studies. In this authorship I will analyse the determinants of the national income, its distribution to the factor outs of harvestion, the determinants for nigh and services, and the factors which bring the supply and demand for goods and services into equilibrium.

List of Content:

1. Definitions

2. Determinants of content Income

3. Distribution of National Income to the Factors of Production:

a)         Firms carry for Labor;

b)         Firms Demand for Capital.

4. The Division of National Income

5. The Determinants of the Demand for Goods and Services:

a) Consumption;

b) investment funds;

c) Government Purchases.

6. The residual of the Supply and Demand for Goods and Services:

a) Equilibrium in the Market for Goods and Services;

b)         Equilibrium in the financial Markets.

c)         Changes in Saving: The Effects of Fiscal Policy;

d)          Changes in Investment Demand.

7. Conclusion

I.         Definitions:

Factors of Productions: The inputs used to produce goods and services

Production Function: The mathematical alliance showing how the quantities of the factors of production determine the quantity of goods and services produced.

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Constant slip away to scales: A property of a production function whereby a proportionate improver in all factors of production leads to an increase in output of the same proportion.

Factor prices: The amounts paid to the factors of production.

Marginal product of tote: The extra output the firm gets from one extra whole of labor, holding the amount of capital fixed.

Diminishing marginal product: A characteristic of a production function whereby the marginal product of a factor falls as the amount of the factor increases while all the other factors are held constant.

Real wage: The earnings to labor measured in units of output rather than in...

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