Select a published National Account release for five (5) years, from one of the following Caribbean countries, through accessing their National Statistical Offices or Central banks.

Jamaica: https://statinja.gov.jm/NationalAccounting/Annual/NewAnnualGDP.aspx

1. In contrast to business bookkeeping, national accounts deal with interactions among a multitude of units in parallel, and thus require special care from a consistency point of view. For each transaction, each entry for each counterparty must be identically valued, allocated in time and classified so as to avoid inconsistencies in aggregating balance sheets of units by sectors or for the total economy. What problems will a National Statistician face in pinning down the timing of transactions that he wishes to record in the National Accounts? 6 marks

b. Explain the importance and uses of the following Balancing Items:

i. Disposable income 2 marks

ii. Operating surplus 2 marks

iii. Value added 2 marks

2. Which GDP result (Constant or Current) is more appropriate for comparative purpose with other countries? 5 marks

3. Using the data in reports and using trends, what does the national income statistics reveal about the country's economy? 15 marks

4. What was occurring in within the economy? 10 marks

5. Were there influences from external factors? 10 marks

6. Use the statistical data provided above to develop a simple Sequence of National Account for the country of your choice in part A including:

a. Production Account 6 marks

b. Primary Distribution of Income Account 6 marks

c. Secondary Distribution of Income Account 6 marks

d. Use of Income Account 6 marks

e. Capital Account 6 marks

Looking for answers to question 5 and 6. c.