Question

The importance of national income statistics to the government of Ghana

Answer 1

Answer:

National income data are significant for a country's per capita income which reflects the economic welfare of the country. The higher the per capita income, the higher the economic welfare and vice versa.,

Here we detail about the eight features of national income in India.

Excessive Dependence on Agriculture: ...

Poor Growth Rate of GDP and Per Capita Income: ...

Unequal Distribution and Poor Standard of Living: ...

Growing Contribution of Tertiary Sector: ...

Unequal Growth of Different Sectors: ...

Regional Disparity:

Explanation:

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Answer 2

The national income is the amount of the revenue received by all of a nation's economic agents. This is one of the main markers of an economy's competitiveness & productive capacity

Explanation:

• Ghana is a fast developing economy with abundant reserves of resources and varied sectors categorized into 24% manufacturing, 57.2% utilities and 18.3% agriculture.
• "Ghana 's Vision 2020" is an economic program focused on accelerating economic growth and reducing poverty through rapid industrialisation. In view of its economic perspective, the "national income accounting" is a vital process. In order to devise economic policies and analyze the current economic situation, national income estimates are the key. They are the most important statistics for economic planning on the short as well as long term.
• National income represents an estimated definition of the population 's commercial standard of living. Taking into account Ghana 's actual per capita national income, Ghanaian economy must target a specific per capita  national income that will effectively reduce Ghana's below poverty line strata of the population, above it.
• Inflationary or recessionary disparities in an economy are indicated by national income statistics. It would enable the Ghana Government to integrate fiscal and monetary policy in order to counter economic instability in the best possible way.
• These also offer a good understanding of the nation's economic structure by calculating the value generation composition across various sectors. Ghana can plan national policies to leverage its comparative advantages once it identifies its dominant industry.

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Why is secondary production industries are not improving in ghana ...

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