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A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).
National income (NI) is the sum of employees, proprietors, rental, corporate, interest, and government income less the subsidies government pays to any of those groups. Net national product (NNP) is National Income plus or minus the statistical discrepancy that accumulates when aggregating data from millions of individual reports.
income accounts, which show primary and secondary income flows—both the income generated in production (e.g. wages and salaries) and distributive income flows (predominantly the redistributive effects of government taxes and social benefit payments). The balancing item of the accounts is disposable income ("National Income" when measured for ...
It is useful to have a measure of a country's total net output, and its changes over time – that's better than having no measure at all. The fault is with the actual use that is made of the concept by governments, intellectuals, and businessmen in public discourse.
National output is the total amount of everything a country produces in a given period of time. Everything that is produced and sold generates an equal amount of income. The total net output of the economy is usually measured as gross domestic product (GDP).
BEA's national economic statistics (National Economic Accounts) provide a comprehensive view of U.S. production, consumption, investment, exports and imports, and income and saving. These statistics are best known by summary measures such as gross domestic product (GDP), corporate profits, personal income and spending, and personal saving.
And no income measurement undertakes to estimate the reverse side of income, that is, the intensity and unpleasantness of effort going into the earning of income. The welfare of a nation can, therefore, scarcely be inferred from a measurement of national income as defined above.
The gross national income (GNI), previously known as gross national product (GNP), is the total amount of factor incomes earned by the residents of a country. It is equal to gross domestic product (GDP), plus factor incomes received from non-resident by residents, minus factor income paid by residents to non-resident.