Abstract
In the last chapter we erected a consistent set of definitions which provided us with a conceptual scheme in terms of which we can (and shall) describe economic behaviour. How do we measure the concepts we have defined? The easiest way of answering this question is to construct, and work through, a simple example.
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Suggested reading
Bank of England, ‘Trends in Company Profitability’, BEQB (March 1976).
Central Statistical Office, The National Accounts: A Short Guide, Studies in Offical 1968).
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*H. C. Edey and A. T. Peacock, National Income and Social Accounting (Hutchinson, 1969).
W. A. H. Godley and C. Gillon, ‘Measuring National Product’, NIESR Review, no. 27 (1964).
*J. R. Hicks, The Social Framework (Oxford University Press, 1971).
HM Treasury, Revenue from the North Sea, Economic Progress Report no. 143 (March 1982).
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© 1983 D. C. Rowan
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Rowan, D.C. (1983). National Income and National Product. In: Output, Inflation and Growth. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06800-5_4
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DOI: https://doi.org/10.1007/978-1-349-06800-5_4
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