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| | Explain the difference between the three main methods of calculating national income - by income, by expenditure and by |
 | | National income method includes the income from employment and from self-employment; gross trading profits of companies, public corporations and general govn enterprises; rent and the imputed charge for the consumption of non-trading capital(benefits from living own houses) and stock appreciation(gain in value). | | | Value added <b>measuresb> the flow that leaves productive sector, national income <b>measuresb> the amount received by households and final demand(or expenditure) is the amount reaching the productive sector again. | | | National income is the value of all goods produced in the economy that are final goods (i.e. |
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http://www.siilats.com/docs/MACRO/NATINC.htm
(1414 words)
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| | Boyes/Melvin Chapter Overview and Strategies |
| | National income accounting <b>measuresb> the output of an entire economy as well as flows between sectors. | | | GDP as income: The total value of output can be computed by adding up the income of all sectors. | | | Gross national product: The GNP is the GDP plus receipts of factor income from the rest of the world minus payments of factor income to the rest of the world. |
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http://college.hmco.com/economics/boyes_melvin/shared/faculty/chov06.html
(558 words)
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| | The National Income and Product Accounts |
| | National wealth, on the other hand, <b>measuresb> the value of all goods, services and assets available in an economy at a point in time and perhaps is a better measure of national economic well-being than GDP. | | | National income <b>measuresb> the money flow along the bottom part of the diagram; i.e., the money value of all factor services used in the production process. | | | National income represents the total amount of money that factors of production earn during the course of a year. |
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http://www.internationalecon.com/v1.0/Finance/ch5/5c010.html
(1285 words)
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| | Measuring the Economy |
| | National income accounting <b>measuresb> the economy& performance by measuring the flows of income and expenditures over a period of time. | | | GDP <b>measuresb> the output of the geographical U.S. regardless of the nationality of the contributors. | | | Corporate profits: After corporate income taxes are paid to government, dividends are distributed to the shareholders, and the remainder is left as undistributed corporate profits. |
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http://www.harpercollege.edu/mhealy/eco212/review/gdptextoutline.htm
(2049 words)
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| | Online Learning Center |
| | PI is the total income received – whether it is earned or unearned – by the households of the economy before the payment of personal taxes. | | | Measurement of GDP can be accomplished by either the expenditures or the income method but the same result is obtained by the two methods. | | | DI is the total income available to households after the payment of personal taxes. |
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http://www.mhhe.com/economics/mcconnell/student/olc/outline07.htm
(1246 words)
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| | National Income |
| | <b>measuresb> of GDP are not identical with <b>measuresb> of national income | | | national income accounting -- the study of the methods of measuring the aggregate output and aggregate income of an economy | | | GDP and GNP (gross national product) are distinguished by where the output is produced and who owns the resources producing the output. |
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http://people.cedarville.edu/employee/wheelerb/macro/ni/ni.htm
(901 words)
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| | Active Skim View of: Appendix A Sustainability and Economic Accounting |
| | <b>Measuresb> of national income and output would be closer to the ideal measure of sustainable income if omitted consumption and net investment were included to obtain augmented income and output <b>measuresb>. | | | One important conclusion is that to the extent that the national accounts omit important components of consumption and of net capital accumulation, they may provide misleading <b>measuresb> of sustainable income. | | | This measure defines sustainable income as the maximum amount that a nation can consume while ensuring that all future generations can have living standards that are at least as high as that of the current generation. |
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http://www.nap.edu/nap-cgi/skimit.cgi?isbn=0309071518&chap=181-195
(774 words)
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| | Survey of Current Business: Improved estimates of the National Income and P... @ HighBeam Research |
| | The resulting income <b>measuresb> are converted to current-replacement cost using the CCAdj-the difference between CCA and Thus, revisions to the CFC affect both historical cost (through the and current-replacement cost (through the CCAdj). | | | They also reflect revisions to personal dividend income, personal interest income, transfer payments to persons, and personal contributions for social insurance, all of which are components of personal income but not of national income. | | | The revisions are primarily accounted for by the previously described revisions to the components of national income that are included in personal income-wages and salary disbursements, other labor income, proprietors' income, and rental income of persons. |
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http://highbeam.com/library/doc0.asp?docid=1G1:18069062&refid=ink_tptd_mag
(13517 words)
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| | United Nations Statistics Division - Common Database |
| | National disposable income is the sum of disposable income of all resident institutional units/sectors. | | | Gross national disposable income is equal to GNI at market prices less current transfers (other than taxes, less subsidies, on production and imports) payable to non-resident units, plus the corresponding transfers receivable by resident units from the rest of the world. | | | Gross national disposable income <b>measuresb> the income available to the nation for final consumption and gross saving. |
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http://unstats.un.org/unsd/cdb/cdb_dict_xrxx.asp?def_code=290
(145 words)
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| | Greening the National Accounts |
| | It is said that the national accounts should identify the value added by environmental services that are implicitly included in current <b>measuresb> of income and should pinpoint some of the costs of reducing damages caused by pollution. | | | Nevertheless, a gradual process of modifying <b>measuresb> of national economic performance is consistent with the history and development of the national accounts. | | | National income accounting is one of the most important policymaking tools to appear in the last 50 years. |
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http://www.cbo.gov/showdoc.cfm?index=4886&sequence=0
(1931 words)
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| | Nat' Academies Press, Assigning Economic Value to Natural Resources (1994) |
| | The income side of the accounts <b>measuresb> the income earned by factors (inputs) contributing to the production of these outputs. | | | Thus, aggregate <b>measuresb> from the accounts may fail to alert decisionmakers of problems with the management of these national assets. | | | These <b>measuresb> could later be integrated into the main components of the accounts as problems of measurement and data axe resolved. |
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http://www.nap.edu/books/0309051436/html/47.html
(4059 words)
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| | Aggregate Expenditure and the Spending Multiplier |
| | Any time new spending is introduced into the economy (or if spending is removed), it will cause GDP (and other <b>measuresb> of national income) to change by some multiple of that spending shock. | | | What is important is that certain expenditure decisions are proportional to the level of income such that as aggregate income increases, expenditure increases by some fraction of this income change. | | | An initial change in autonomous spending (for example, a shock in the form of an increase in government spending) of $20 (billion) is received as income by some person or business in the aggregate economy. |
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http://www.digitaleconomist.com/ae_4020.html
(526 words)
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| | GDP Deflator Calculator |
| | <b>Measuresb> of economic growth are measured by calculating the percentage change in real GDP (or in terms of output growth since the price term is held constant). | | | Both the gross national product and national income <b>measuresb> are used to determine the rate of overall economic growth. | | | The difference between gross domestic product and national income ($1,892.00) is due to depreciation expense, indirect business taxes (sales and excise taxes), and business transfers to individuals (through donations to the United Way and the like). |
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http://www.digitaleconomist.com/nia_4020.html
(1017 words)
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| | <b>Measuresb> of national income and output - Wikipedia, the free encyclopedia |
| | <b>Measuresb> of national income and output are used in economics to estimate the value of goods and services produced in an economy. | | | In relation to greening the national accounts the United States Congressional Budget Office concludes "a gradual process of modifying <b>measuresb> of national economic performance is consistent with the history and development of the national accounts."[1] | | | Countries with a skewed income distribution may have a relatively high per-capita GNP while the majority of its citizens have a relatively low level of income, due to concentration of wealth in the hands of a small fraction of the population. |
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http://en.wikipedia.org/wiki/Measures_of_national_income_and_output
(1462 words)
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| | default.aspx?modulo=wikipedia&arg=income |
| | National income, measured by statistics such as the Net National Income (NNI), <b>measuresb> the total income of all individuals in the economy. | | | To calculate a company's income, it starts with its amount of revenue, deducts all costs, including such things as employees' salaries and depreciation, and the number that results is its income, which may be a negative number. | | | In business and accounting, income (also known as profit or earnings) is, more specifically, the amount of money that a company earns after paying for all its costs. |
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http://www.kisanji.org/default.aspx?modulo=wikipedia&arg=income
(701 words)
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| | Textbook p. 146 question 8a |
| | The ensuing questions ask you to determine the major national income <b>measuresb> by both the expenditure and income methods. | | | 7-8 (Key Question) Below is a list of domestic output and national income figures for a given year. | | | also calculate National Income (NI) by the income method. |
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http://www.harpercollege.edu/mhealy/eco212i/assign/calcgdp.htm
(138 words)
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| | EconPapers: The Health of Nations: The Contribution of Improved Health to Living Standards |
| | It is not widely recognized, however, that conventional <b>measuresb> of national income and output exclude the value of improvements in the health status of the population. | | | The study first discusses the theory of the measurement of national income, examines some of the shortcomings of traditional concepts, and proposes a new concept called 'health income' that can be used to incorporate improvements in health status. | | | Abstract: Nations generally measure their economic performance using the yardstick of national output and income. |
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http://econpapers.repec.org/paper/cwlcwldpp/1355.htm
(329 words)
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| | Encyclopedia |
| | It is one of the <b>measuresb> of national income and output. | | | A measure of the economy to GDP is the Aggregate expenditure measure, which is identical to GDP except that it excludes items produced but not purchased (net inventory/stock level growth). | | | If the hotel is your private home your renovation spending would be measured as Consumption, but if a government agency is converting the hotel into an office for civil servants the renovation spending would be measured as part of public sector spending (G). |
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http://www.stylokna.pl/wikipedia/Gross_domestic_product
(2005 words)
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| | SSRN-The Health of Nations: The Contribution of Improved Health to Living Standards by William Nordhaus |
| | It is not widely recognized, however, that conventional <b>measuresb> of national income and output exclude the value of improvements in the health status of the population. | | | Nations generally measure their economic performance using the yardstick of national output and income. | | | The study first discusses the theory of the measurement of national income, examines some of the shortcomings of traditional concepts, and proposes a new concept called 'health income' that can be used to incorporate improvements in health status. |
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http://papers.ssrn.com/sol3/papers.cfm?abstract_id=302579
(453 words)
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| | Tutor2u - measuring national income |
| | National Income is a term used to measure the monetary value of the flow of output of goods and services produced within the economy over a period of time. | | | Only factor incomes generated through the production of output are included in the calculation of GDP by the income approach. | | | It includes the output of the many foreign owned firms that are located in the UK following the high levels of foreign direct investment in the UK economy in the 1980s and 1990s. |
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http://www.tutor2u.net/economics/content/topics/macroeconomy/national_income.htm
(672 words)
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| | National Income |
| | <b>measuresb> of GDP are not identical with <b>measuresb> of national income | | | national income accounting -- the study of the methods of measuring the aggregate output and aggregate income of an economy | | | GDP and GNP (gross national product) are distinguished by where the output is produced and who owns the resources producing the output. |
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http://people.cedarville.edu/employee/wheelerb/macro/ni/ni.htm
(901 words)
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| | Active Skim View of: Appendix A Sustainability and Economic Accounting |
| | <b>Measuresb> of national income and output would be closer to the ideal measure of sustainable income if omitted consumption and net investment were included to obtain augmented income and output <b>measuresb>. | | | One important conclusion is that to the extent that the national accounts omit important components of consumption and of net capital accumulation, they may provide misleading <b>measuresb> of sustainable income. | | | This measure defines sustainable income as the maximum amount that a nation can consume while ensuring that all future generations can have living standards that are at least as high as that of the current generation. |
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http://www.nap.edu/nap-cgi/skimit.cgi?isbn=0309071518&chap=181-195
(774 words)
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| | Gross National Income - Wikipedia, the free encyclopedia |
| | For example, if a British-owned company operating in another country sends some of their incomes (profits) back to UK, UK’s GNI is enhanced. | | | Previously known as Gross National Product, Gross National Income comprises the total value of goods and services produced within a country (i.e. | | | Similarly, a British production unit of a US company sending profit to the US will affect the British GNI but will not reduce it since it is not included in the first place. |
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http://en.wikipedia.org/wiki/Gross_National_Income
(153 words)
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| | American Journal of Economics and Sociology, The: Irving Fisher and the contribution of improved longevity to living standards |
| | The current approach is to measure health output primarily by the number of physician-visits, the number of hospital days, and similar <b>measuresb>, rather than the actual delivery of services or changes in health status. | | | Attempts to measure improvements in the health status of the population--including everything from vaccinations, microsurgery, and new drugs to airbags, exercise, and anti-cigarette advertising--pose a new and difficult challenge to measuring national income. | | | The techniques used to measure the price and quantity of health care are highly defective, and there are no attempts to account for improvements in the length of life into current national accounts. |
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http://www.findarticles.com/p/articles/mi_m0254/is_1_64/ai_n13803511
(1412 words)
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| | national income accounting |
| | Though not a true income because it is not a payment for services, it is part of the value of final output. | | | Because it is difficult or impossible to separate the part of this income that is truly a wage to the owner from that which is actually a profit, the folks at the Commerce Department who collect the numbers keep it in the separate account of proprietors' income. | | | Corporate profit includes the amounts that corporations pay in the form of the corporate income tax, the amounts they pay stockholders in the form of dividends, and the amounts they "save" or retain within the business. |
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http://ingrimayne.saintjoe.edu/econ/Connections/Sources.html
(1135 words)
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| | Nat' Academies Press, Nature's Numbers: Expanding the National Economic Accounts to Include the Environment (1999) |
| | The nation's <b>measuresb> of national income and output can be improved by including all consumption and net investment to obtain augmented income and output <b>measuresb>. | | | A second approach to environmental accounting is the construction of comprehensive <b>measuresb> of national income or output to supplement the conventional GDP and NDP accounts. | | | The national accounts have a close relationship with <b>measuresb> of sustainable income, since the usual measure of NDP corresponds to the highest sustainable level of per capita consumption under idealized conditions. |
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http://www.nap.edu/openbook/0309071518/html/57.html
(697 words)
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| | lipsey_chrystal_summ20.ppt |
| | Interpreting National Income and Output GDP and related <b>measuresb> of national income and output must be interpreted with their limitations in mind. | | | Personal disposable income is the amount actually available for individuals to spend or to save, that is, income minus taxes. | | | Personal income is income received by individuals before any allowance for personal taxes. |
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http://www.oup.co.uk/powerpoint/bt/lipsey-chrystal/lipsey_chrystal_summ20.ppt
(227 words)
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