This study used consumption cost, Gross Domestic Product, Household cost and international trade values collected from the Central Bank of Nigeria Statistical Bulletin from
Depending on how quickly we move this semester, the class will cover between 45 to 54 of these questions.
For the essay exam, students will be allowed to use one sheet of paper 8. You may also use the notes you turned in for the first exam. These notes must be turned in with the exam, and you can earn up to 10 extra credit points for them depending on how complete they are.
The notes mentioned above must be on your cleared desk with your Blue Book before the questions are drawn. Students will have 80 minutes to answer the three questions that have been drawn as fully and with the greatest detail as they are able to.
The multiple-choice exam will be administered on the course's ACC Blackboard site. Pools of multiple-choice questions have been constructed around each question below.
There are from 10 to 40 questions in each pool. The exam on Blackboard will randomly select 2 or 3 questions from each pool for each question covered on an exam. The multiple-choice exam is an open book, open note exam which will be taken on-line outside of class time.
The three midterm multiple-choice exams will consist of between 40 and 50 questions. A practice exam will be available on Blackboard for each exam to enable students to better prepare of the exams.
This exam will cover material from chapters 6, 7, 8, 9, and Circular Flow Model Used in Macroeconomics Chapter 7 Draw the circular flow of economic activity, labeling all economic actors, markets, and money flows. Point out on the graph and explain in words where one might build a dam or dams to measure GDP by: Why are money prices used in calculating GDP?
What items are not included in the calculation of GDP? How is it calculated using the expenditure approach? How is it calculated using the income approach? How is it calculated using the value added approach?
Explain the problem of "double-counting" and how it can be avoided. Discuss the strengths and weaknesses i. Chapter 7 to measure the social well being of a nation, in making comparisons of one nation to another, and in making comparisons of one time period in a given nation's history with another time period years earlie in the same nation's history.
Use this information to answer the questions that follow.Personal taxes include personal income taxes, personal property taxes, and inheritance taxes. Disposable income is the amount of income that households have left over after paying their personal taxes" (McConnell & Brue, p).
Tax revenue is the income that is gained by governments through taxation. Taxation is the primary source of income for a state. Taxation is the primary source of income for a state.
Revenue may be extracted from sources such as individuals, public enterprises, trade, royalties on natural resources and/or foreign aid. Essay Instructions: discuss the gross domestic product of the U.S economy and explain how it serves as one of the best possible indicators of the health and well-being of our nation''s economy.
explain the components that make up the GDP. Gross Domestic Product The Gross Domestic Product or Gross Domestic Income is the market value of all final goods and services made within the borders of a country in a year.
GDP is divided among four components of expenditure: consumption, investment, government purchases, and net exports. The GDP per capita of a country is defined as the total national income earned by the nation divided by the population by the middle of the fiscal year under analysis.
This is usually done using the United States dollars currency and is arrived at using a unique methodology commonly referred to as the World Bank atlas method (Scaglia, ). Taxes, GDP and Net Personal Income - Taxes are an inevitable necessary part of life.
While most of us become stressed out and suffer financially from taxes, it is a known fact that we enjoy many of the benefits of the process of taxation.