National Income SAQ

Taxes, savings, and imports.

Government expenditure, investment, and exports.

It helps policymakers make informed decisions.

<p>It shows whether the standard of living has risen or fallen.</p> Signup and view all the answers

<p>Y = C + I + G + (X - M)</p> Signup and view all the answers

<p>Incomes, direct taxes, consumer expectations, marginal propensity to consume, interest rates, and availability of credit.</p> Signup and view all the answers

<p>Capital formation or the production of capital goods.</p> Signup and view all the answers

<p>Business people's expectations, interest rates, and taxes.</p> Signup and view all the answers

<p>Government revenue from taxation, NTMA's ability to borrow at low interest rates, EU rules, and the size of public debt.</p> Signup and view all the answers

<p>Incomes in foreign markets and exchange rates.</p> Signup and view all the answers

<p>Incomes in Ireland, marginal propensity to import, and exchange rates.</p> Signup and view all the answers

<p>Why does national income statistics not account for population changes?</p> Signup and view all the answers

<p>Spending more on health/education than military equipment indicates a better standard of living</p> Signup and view all the answers

<p>Increased prices can raise national income but lower the standard of living.</p> Signup and view all the answers

<p>Unrecorded economic activity not accounted for in national income.</p> Signup and view all the answers

<p>The value of goods and services produced by Irish and foreign-owned FOPs in the domestic economy.</p> Signup and view all the answers

<p>GDP includes the value produced domestically by foreign and local factors, while GNP includes the value produced by local factors both domestically and abroad.</p> Signup and view all the answers

<p>The total income earned by a country's residents and businesses, regardless of where it is earned.</p> Signup and view all the answers

<p>GNP + EU subsidies - EU taxes.</p> Signup and view all the answers

<p>Gross National Disposable Income; it measures the income available for gross saving and final consumption.</p> Signup and view all the answers

<p>It leads to a decline in sales, job losses, and reduced economic activity.</p> Signup and view all the answers

<p>Loss of VAT and excise duties.</p> Signup and view all the answers

<p>Lack of regulation may result in unsafe products.</p> Signup and view all the answers

<p>A sole right to produce an invention created by an inventor.</p> Signup and view all the answers

<p>Brand names like Coca-Cola.</p> Signup and view all the answers

<p>Protection for creative works like films.</p> Signup and view all the answers

<p>A company process not known outside the company, such as a recipe.</p> Signup and view all the answers

<p>The relationship between an initial injection into the circular flow of income and the eventual total increase in national income.</p> Signup and view all the answers

<p>Higher inflation rates than interest rates decrease savings.</p> Signup and view all the answers

<p>High rates of DIRT discourage savings.</p> Signup and view all the answers

<p>People can afford to save more.</p> Signup and view all the answers

<p>A closed economy does not engage in international trade, while an open economy relies heavily on it.</p> Signup and view all the answers

<p>High levels of economic growth and low interest rates.</p> Signup and view all the answers

<p>The economy overheats, full employment is reached, and inflation is high.</p> Signup and view all the answers

<p>GDP falls over two successive quarters, national income falls, and pessimistic expectations prevail.</p> Signup and view all the answers