Notes for 3.1.1 National income accounting as a measure of economic activity - IB | RevisionDojo
3.1.1 National income accounting as a measure of economic activity Notes
National income accounting as a measure of economic activity
Definition
National income accounting
The measurement of an economy's national income and output, as well as other measuresofeconomic activity.
National income accounting is essentially a measure of the economicactivity occurring in an economy (how much is being produced, how much is being sold...). Understanding the level of economic activity is important for economies, because it helps:
Evaluate an economy's performance over time.
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Definition
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Note
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Tip
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.
Questions
Recap questions
1 of 5
Question 1
Recap question
Although national income accounting measures aggregate economic activity, it may not fully reflect overall societal well-being because it:
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