3

Put on your institutional hat. And make a distinction between fixed assets, like land, and the ownership of fixed assets: capital. See the European System of National Accounts 2010 p. 73.


3

Residency is a complex definition. For example, the Council for Science and Technology of my country supports many graduate students abroad every year. Those guys stay abroad for periods of 1-5 years, yet statistics compilators still count them as residents of the National economy. Why? Because their economic interests are based at home, not the other ...


2

The output defined with spending approach: $Y\equiv C+I+G+NX$ is an identity because it holds by definition. By definition output must be equal to sum of spending, investment government spending and net exports. However, this is actually not the equilibrium condition. The equilibrium condition is that goods market demand $Z$ must be equal to output in the ...


2

GDP data are not reported on individual level so that is not directly possible (at least not without going through the expense of collecting such data). However, output is equal to income (see Mankiw's Macroeconomics pp 47-77). Consequently, if you want to know median output just look at gross median income, they are equal in reality since the value of your ...


2

Are there techniques, regardless of practically how difficult they are, of possibly measuring domestic work? Yes, measuring household gross production (GDP measures gross product not amount of work), is just matter of estimating how much households produce, in a given unit of time (e.g. quarter, year... etc), and what would be value of that output on the ...


1

No the identity would be preserved, since $I_2=S_2$ when inventory is reduced by $\Delta I_2$ =-\$2 at the same time the second person dissaves $\\\$2$, so $\Delta S_2$ = -\$2 as well. If then that person saves 2 dollars that they got from their customers then that will become some sort of investment (depending on how it is saved) so then we have $ \Delta ...


1

This is an important question which is usually covered in good undergraduate texts. You are correct in pointing out that the two appear to be same. But there is a subtle difference. The difference comes through the definition of $I$. The Income-Expenditure Identity is an accounting identity in which $I$ is the realized investment expenditure which includes ...


1

I am answering this both as a PhD in economics and as a Certified Accountant (I am both). This quote for the wikipedia page is garbage, because it comes after the article has correctly informed the reader that CFC is an estimate that attempts to capture the economic reality rather than the accounting convention as regards consumption of capital for ...


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