What are the key conventions of the National Accounts and to what purposes are they put?

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Subject: Order Essay

1. What are the key conventions of the National Accounts and to what purposes are they put?

2. What are their limitations?

3. Comparative advantage raises its head again, this time in macro. Make sense of how comparative advantage relates to macroeconomic national accounting.

4. Why do economists focus on growth of output? What are the pluses and minuses of this approach?

5. Why do economists seek to abstract from the business cycle to focus on long-term secular trends in output?

6. What is the so-called pension dilemma? What are its implications?

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