2007-03-24 01:08:20 · 6 answers · asked by Anonymous in Social Science ➔ Economics
It signals to policy-makers what to do!
2007-03-27 18:52:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
National Income is a quantitative thing. So, it can only be measued: not felt, touched or seen or heard. National Income statistics have to collected and complied to find out the National Income for different periods ( generally a year) in the past. Size of the National Income and changes in that size tells us how big an economy is and whether it is growing or not and if growing at what rate? Also, on an anverage, how much income a citizen is earning? Finding out all these is however not important if we dot care about what is happening to the citizens' economic condition relative to the citizens of other countries or our past generations.
2007-03-26 04:37:42 · answer #2 · answered by sensekonomikx 7 · 0⤊ 0⤋
National Income is the money value of all goods and services produced in a country during a year.
Growth in National Income is considered as an index of the development of the nation. It is used to
1. to estimate economic development.
2. to know how far development objectives have been achieved.
3. to know the contribution of various sectors to national income.
4.
2007-03-24 01:26:23 · answer #3 · answered by surez 3 · 0⤊ 0⤋
hmmm accounting is good for ? oh let me see I still have checks so icant be b rok huh? distribution of things including finance is an integral part of balancing and distribution isnt it?
2007-03-24 01:13:27 · answer #4 · answered by The Thinker 6 · 0⤊ 0⤋
Taxes and it lets us compare to the past and from year to year to know how people are doing.
2007-03-24 01:11:59 · answer #5 · answered by Michelle118 4 · 0⤊ 0⤋
To know the progress, if any in developments
2007-03-24 01:56:05 · answer #6 · answered by Professor 3 · 0⤊ 0⤋