Now they have something out that can do just that..with this new thing called income vacation its new.. So ever one thats trying to hid there income will be a thing of the past sad isn't it take care..
What Are The Problems In Measuring National Income?
Withdrawals and injections are not taken into account of national income
UNIVERSAL PROBLEMS:
1.Non-monitory services
2.Black Money
3.Changing value of currency
RELATING TO DEVELOPMENT COUNTRY
1. Lack of data
2. Lack of skills
3. Lack of sense
4. Double books
5. Curruption
1.Non-monitory services
2.Black Money
3.Changing value of currency
RELATING TO DEVELOPMENT COUNTRY
1. Lack of data
2. Lack of skills
3. Lack of sense
4. Double books
5. Curruption
Block money
Problems of economic planning in nigeria
* National Income does not measure:-
An increase in leisure or work satisfaction.
Changes in product quality
*National Income does not accurately reflect changes in environment like oil spills cleanup is measured as positive output but increased in pollution is not measured as negative
*Problem of double counting.
*Problems of depreciation estimation
* Arbitrary Definition
Inclusion or exclusion of certain items in national income accounting can cause confusion
*Challenges like difficulties in getting information especially those related to underground economy.
An increase in leisure or work satisfaction.
Changes in product quality
*National Income does not accurately reflect changes in environment like oil spills cleanup is measured as positive output but increased in pollution is not measured as negative
*Problem of double counting.
*Problems of depreciation estimation
* Arbitrary Definition
Inclusion or exclusion of certain items in national income accounting can cause confusion
*Challenges like difficulties in getting information especially those related to underground economy.
It depend on the inflation. If the inflation increase the national income need to more and increase the money.