GNP accounts avoid double counting by including only the value of final goods services sold on the market.
Should the measure of imports used in the GNP accounts therefore be defined to include only imports of final goods & services from abroad?
What about exports?
Currently the measure of GNP excludes imports but includes exports
word memo explaining the basics of how labor forces influence
international business.Include information on labor quality, quantity, and mobility, as well as minorities, the
labor market, and labor unions.
I have to write a business memo about this topic:Your company sells its products in many different countries. The Director of Exporting and Trade has decided to take on a number of interns over the summer to help the company communicate with its outlets within the various foreign countries. The interns, who are studying to get their Associates Degree
in Business, are going to need an introduction to international labor if they are going to be able to communicate with the various countries.
• Write a 350- to 700-word memo explaining the basics of how labor forces influence international business.
• Include information on labor quality, quantity, and mobility, as well as minorities, the labor market, and labor unions.
• Post the memo as an attachment.
My only problem is how to go about formatting it does anyone know a website that can show me how oe allow me to type in my own words and then have it formatted automatically?
The measure of imports used in the Gross National Product (GNP) accounts should include only imports of final goods and services from abroad. This is because the purpose of GNP accounts is to measure the value of goods and services produced within a country's borders.
Including only imports of final goods and services ensures that no double counting occurs in the GNP calculation. Double counting refers to the inflation of economic output by mistakenly including the value of intermediate goods, which are goods used in the production process but not intended for final sale.
By considering only imports of final goods and services, the value captured in the GNP accounts accurately represents the contribution of foreign production to the domestic economy. This approach reflects the underlying principle of GNP, which seeks to analyze the overall economic activity of a country by measuring the final output of goods and services.
Regarding exports, they should be treated similarly. The measure of exports in the GNP accounts should include only exports of final goods and services. This ensures consistency in the calculation and avoids the inclusion of intermediate goods or products that are ultimately sent abroad for further processing.
Considering only final goods and services in both imports and exports allows for an accurate assessment of a country's net production and trade balance. It helps to accurately measure the economic contribution made by both domestic and foreign factors in the calculation of GNP.