NATIONAL INCOME ACCOUNTING (NIA)
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6 Terms
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Macroeconomics
Concerned with the performance of the economy as a whole
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Macroeconomics
Attempts to explain why the economy’s total output of goods and services fluctuates overtime.
Giving time to the business cycle with its accompanying upward and downward movements in the unemployment and inflation rates
Giving time to the business cycle with its accompanying upward and downward movements in the unemployment and inflation rates
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National Income Accounting (NIA)
government bookkeeping system that measures a country's economic activity—offering insight into how an economy is performing.
GDP & GNP
GDP & GNP
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Allows to keep finger on the economic pulse
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Comparing national income accounts over years
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Provides basis for formulating, and applying policies
Note 
Flashcards (23)