Ministry of Education and Vocational Training Essay

Attempt five question 2. Be neat, precise, accurate and brief. 3. Illustrations where necessary is an added advantage. 1.

There are certain pitfall which are to be avoided while measuring the gross domestic product of a country what those pitfalls are? 2. Why do national income accountants include only final goods In measuring GAP for a particular year? Why don’t they include the value of stocks and bonds sold?Why don’t they Include the value of used furniture bought and sold? 3. Explain with the help off model the circular flow of national Income 4. Briefly explain the major function of public finance 5. What are the circumstances which can make a bank to dishonor a cheese 6. Briefly explain “credit creation process” with its complications 7. A budget is also serves as a financial plan, which comprises of certain operational elements.

Identify and briefly describes each of these operational elements 8. Using the following national Income accounting data, compute (a) GAP, (b) AND, (c) IN.All figures are In billions. Compensation of employees TX exports of goods and services Consumption of fixed capital Government purchases of goods and services business taxes domestic Investment 17. 8 11. 8 59. 4 S 194.

2 Indirect 14. 4 52. 1 Net private Transfer payments 13. 9 TX Imports of goods and services Personal taxes foreign factor income earned in T. Z. Consumption expenditures 40.

5 16. 9 Net Personal 2. 2 219. 1 “It’s not the will to win, but the will to prepare to win that makes the difference. Good luck with your studies and the examination! “Wisely say with heartily love to economics subject Mewl. Angelo Ministry of Education and Vocational Training By Angelo 2:30 her(rant) goods in measuring GAP for a particular year? Why don’t they include the value of stocks and bonds sold? Why don’t they include the value of used furniture bought and sold? 3. Explain with the help off model the circular flow of national income national income accounting data, compute (a) GAP, (b) AND, (c) N’.

All figures are in domestic investment TX imports of goods and services $ 194. 2

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