National Income-Macro Economics-Lecture Slides, Slides for Macroeconomics. Indian Institute of Management (IIM)
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suba13 July 2012

National Income-Macro Economics-Lecture Slides, Slides for Macroeconomics. Indian Institute of Management (IIM)

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This lecture was delivered by Ainesh Selvi at Indian Institute of Management (IIM) for Macro Economics course. It include: Income, Producer, Expenditure, Consumer, Money, Value, Aggregate, Output, Firms, Households
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NATIONAL INCOME

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 Income of the producer

 Expenditure of consumer

 Money value

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 Aggregate of personal incomes

 More income means more spending

 More spending means more output

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 Firms

 Households

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 Savings

 Taxation

 Imports

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 Investment

 Government spending

 Exports

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• Producer of certain goods

• Purchaser of final goods and services

• Invests by purchasing capital goods

• Transfer payments from one section of economy to other

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 GDP

 GNP

 NNP

 NI

 PI

 DPI

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 GDP is the money value of all the final goods and services produced within a country during a specific period of time by the locals.

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 GNP is the money value of all the final goods and services produced within a country during a specific period of time by the locals as well as the remittances received within a countrty.

 GNP=C+I+G+X-M

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 NNP=GNP-Depreciation allowance

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• Adjustments:

1. Govt Subsidies

2. Indirect Taxes

3. Transfer Payments

4. Statistical Discrepancy

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• Adjustments:

1. Corporate Profit Tax

2. Undistributed Corporate Profits

3. Contribution to Social Security

4. Govt Transfer Payments

5. Business Transfer Payments

6. Transfer payments from abroad

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 DPI=PI- direct taxes

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 Product Approach

 Income Approach

 Expenditure Approach

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