Macro- Economics

PROGRAMME: BUSINESS ADMINISTRATION

COURSE NAME: MACROECONOMICS

CODE: ECON3701

YEAR GROUP: THREE

UNIT:

DUE DATE: TBD

ASSESSMENT TYPE: COURSEWORK: INDIVIDUAL-20%

INSTRUCTION: Answer ALL questions

“GDP per capital or any National Income statistics cannot be used to measure living standards or

compare different countries, due to the number of deficiencies that it has”.

i. EXPLAIN how national income data is compiled? (8 marks)

ii. What deficiencies is this statement talking about? (6 marks)

iii. Why do Economists still use GDP per capital to compare or rank countries if there are such deficiencies? (6 marks)

(Total 20 marks)

APA STANDARDS EXPECTED