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National income and output (billions of dollars) Period ending 2003 Gross national product: 11,063.3 Net U.S. income receipts from rest of the world: 55.2 U.S. income receipts: 329.1 U.S. income payments-273.9 Gross domestic product: 11,008.1 Private consumption of fixed capital: 1,135.9 Government consumption of fixed capital
The table summarizes national income on the left (debit, revenue) side and national product on the right (credit, expense) side of a two-column accounting report. Thus the left side gives GDP by the income method, and the right side gives GDP by the expenditure method. The GDP is given on the bottom line of both sides of the report.
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 ...
Net national income encompasses the income of households, businesses, and the government. Net national income is defined as gross domestic product plus net receipts of wages , salaries and property income from abroad, minus the depreciation of fixed capital assets (dwellings, buildings, machinery, transport equipment and physical infrastructure ...
The System of National Accounts (often abbreviated as SNA; formerly the United Nations System of National Accounts or UNSNA) is an international standard system of national accounts, the first international standard being published in 1953. [1] Handbooks have been released for the 1968 revision, the 1993 revision, and the 2008 revision. [2]
The welfare of a nation can, therefore, scarcely be inferred from a measurement of national income as defined above. In 1962, Kuznets stated: [ 36 ] Distinctions must be kept in mind between quantity and quality of growth, between costs and returns, and between the short and long run.
The World Bank has used the Atlas method [1] since 1993 to estimate the economic size of countries based on their gross national income (GNI) in U.S. dollars. To convert a country's GNI from its local currency to U.S. dollars, the Atlas method uses a conversion factor that averages exchange rates over three years. This helps reduce the impact ...
A Summary of National Well-being Measures from March 2014 National Well-being Wheel of measures. The programme will continue developing and improving the measurement of the well-being of the citizens in the United Kingdom in order to report on the findings to inform both public debate and policy-making.