Economics | Homework Help Websites

National Income Accounting

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper

Part A


1. What is the definition of Gross Domestic Product (GDP)? Explain each part of the definition.

(a) What is value-added? How is it linked to GDP?

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper

(b) How else can we measure the GDP? Give both the income approach and expenditure approach. Explain each part of each approach.

(c) What is GNP and how is it linked to GDP?

(d) What is NDP and how is it linked to GDP?

(e) What is National Income and how is it linked to NDP?

(f) Find out the U.S. GDP (in current dollars) for 1986-2016 and plot them into a graph.

(g) What is real GDP? How is it measured? Find out the U.S. Real GDP for 1978-2017 and plot them into the same graph.

(h) What is the GDP deflator? Why is it important?

(i) What is the difference between the growth rate of nominal GDP, the growth rate of real GDP and the growth rate of real GDP per capita? What are the determinants of the last one? Find out the growth rate of U.S. Real GDP per capita for 1978-2017 and plot them into a graph.


2. What is inflation?

(a) Give three different ways to measure it.

(b) Find out the U.S. rates of inflation for 1979-2018 and plot them into a graph.

(c) What is the difference between cost-push and demand-pull inflation?


Part B

3. What is the definition of an “unemployed”person according to the U.S. Bureau of Labor Statistics?

(a) Find out the U.S. rates of unemployment for 1979-2018 and plot them into a graph.

(b) “The unemployment rate has gone down, which means the economy is doing really well.”True or false? Explain.

(c) What are the three types of unemployment? Explain each one.

(d) What is the natural rate of unemployment?

4. What is consumption function and saving function? What is marginal propensity to consume (mpc)?

(a) How is saving related to mpc? Is saving related to the real interest rate (r)?

(b) Why is investment negatively related to r?


5. What is money?

(a) Which broad categories can we devide its uses into?

(b) How are bond prices related to the real rate of interest r? Explain with an example.

(c) How is the demand for money (or real balance of money) related to the real rate of interest r and real GDP Y ? Why?

(d) What are M1 and M2 money stock?

(e) Is credit card counted as money? Why?

(f) How do commercial banks create money? Explain with an example. What is the money multiplier?

(g) Who controls the money supply? What are the tools? How do the tools change the money supply?

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Customer 452441, April 6th, 2022
Good work on the spreadsheet.
Customer 459155, May 31st, 2022
Customer 462815, April 20th, 2022
English 101
Good job.
Customer 462899, April 26th, 2022
Social Work and Human Services
Good work.
Customer 462793, July 8th, 2022
Business and administrative studies
Be keen on plagiarism and grammar. Also, always follow the instructions' check-list.
Customer 453509, April 10th, 2022
Good work.
Customer 463049, June 5th, 2022
Family and consumer science
Great effort.
Customer 462739, April 14th, 2022
Religious studies
Excellent response.
Customer 460547, April 20th, 2022
The paper was beautifully written and all instructions were followed exactly as stated. Thank you so much for delivering a quality paper.
Customer 452455, February 22nd, 2023
A job well done
Customer 463679, April 30th, 2023
Political science
Despite time constraints, the paper is well-structured and visually plenty as required.
Customer 453367, April 5th, 2022
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat