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write brief definition of every line that is listed on the paper

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write brief definition of every line that is listed on the paper
Answered Same Day Dec 22, 2021

Solution

Robert answered on Dec 22 2021
117 Votes
RPI: It is similar to CPI and tracks changes in the cost of a fixed basket of goods over time. Compared to CPI , it includes many god that are excluded from CPI an dit also uses different formula.
RPIX: RPIX = RPI - mortgage interest payments.
RPIY: The RPIY measures core inflation. RPIY = RPIX - taxes ( like VAT and excise duty)
Claimant count: The Claimant Count is used in UK as a measure of unemployment. It is the number of people who claim unemployment benefits, while actively seeking work.
labor force survey: As the name suggests it is survey of the labor force in a country. it reports various aspects of the force like age, employment status, income level,
BOP: Balance of payments is a record of al transactions done by a nation with rest of the world. these can be financial/ non financial. It is the sum of capital and cu
ent account and is based on accounting principles of debit and credit entries. As result BOP is always balanced as assets= liabilities.
Cu
ent account: The cu
ent account shows the inflow and outflow of goods and services into a country. It includes exports, imports of goods and services, earnings on investments, and unilateral transfers.
Visible exports: these refer to physical good and services that are produced by the nation and consumed
ought by consumers of other nations.
Visible imports: these refer to physical good and services that are produced by another nation and consumed
ought by consumers of this nation
Invisible M/X: these refer to earnings on investments made by domestic residents in foreign nations. It is invisible as no physical good is used/produced/visible.
capital account: It records all international capital transfers. These include acquisition/ disposal of non-financial assets (land) and non-produced assets,( natural resources).
Capital inflow: It is the flow of money from external sources for use in domestic economy.
Capital outflow: It refers to the flow of money to other economies for use in foreign economies.
GDP : GDP measures value of output generated in an economy. It is used to indicate rising output/ goods and services produced in an economy.
eal GDP: It expresses GD in terms of purchasing power. Real GDP = Nominal GDP / price level
Nominal GDp: It is the value of goods and services produced in an economy in a year, when the valuation is done at cu
ent prices.
GNP = GDP + net factor income from a
oad.
National Income= Net National product = NNP= GDP – depreciation + net factor income from a
oad.
Circular flow of income: The circular flow of income implies that income/money/goods and services flow between different economic agents in an economy. This flow can take the form of exchange of goods and services (as in a barter economy) or in terms of money. The two forms are equivalent as money is treated as a medium of exchange only.
Injections: When money comes into the system from another economy, we have an injection. These are of two types. One, the households of this economy can supply their services to firms in another economy and use the factor payments to buy final goods in this domestic system. These are called remittances, which are spent in the domestic economy but earned elsewhere, so they are ‘injected’...
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