econ-Journal16 - elsewhere. It is generally used as an...

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Duc Hoang – ECON210 Journal date: 10/25 National Incomes Macroeconomics deals with a number of large totals or aggregates which  are used to conceptualize and measure key components of the economy.  The most fundamental of these is the total output of goods and services,  conventionally referred to as the national income.  “Domestic   income"   is  that  produced  within   a  country  by  all   producers  operating there, whether foreign or not. “National income" is that produced  only by “nationals" of that country, whether they are producing it there or 
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Unformatted text preview: elsewhere. It is generally used as an indicator of the economys performance. Because a larger output or income is equated with a rise in the economic well-being of a countrys population, a higher output or income is considered desirable and a lower one undesirable. The economys overall performance is tracked by the changing value of the total output or income statistic....
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This note was uploaded on 03/10/2011 for the course ECON 101 taught by Professor Duc during the Spring '05 term at Linfield.

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