PO232 Study Guide - Final Guide: Financial Transaction, National Treatment, Deadweight Loss
Document Summary
Gdp: value of all goods and services produced within a countries boarder summed over a set period of time, gdp > government revenue. Gni: all goods and services produced (gdp) + net income from other countries, net income includes compensation, property income and taxes on production and imports, total amount a country gets to keep. Gdp per capita: total gdp/ population, measure of income per head within a countries boarder. Gni per capita: total gni/ population, measure of income per head within a countries boarder + outside of countries boarder. Balance of payments: record of all payments or monetary transactions between a particular country and the world during a year, 3 sections- current account, capital account and financial account. Paying for aid and disaster relief: = exports imports (x m, financial account, tracks ownership of assets held by foreigners and ownership of foreign assets.
