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For oil-export-dependent economies, there could be substantial differences between real GDP and real GDI, due the effect of oil price volatility on the purchasing power in those countries. [1] [2] In the United States National Income and product accounts, the word GDI is use to define GDP calculated with income data rather than expenditure data ...
In 2012–13, the Gross State Domestic Product (GSDP) of residual state of Andhra Pradesh post bifurcation at constant prices stood at ₹ 2,359.3 billion (US$27 billion) and the Gross State Domestic Product at current prices for the same fiscal year stood at ₹ 4,193.91 billion (US$48 billion).
Real GDP is an example of the distinction between real and nominal values in economics.Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region, usually a country; this depends on the quantities of goods and services produced, and their respective prices.
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).
Gross domestic product (GDP) is a measure of aggregate output. Nominal GDP in a particular period reflects prices that were current at the time, whereas real GDP compensates for inflation. Price indices and the U.S. National Income and Product Accounts are constructed from bundles
Gross income measures the profit generated from sales alone, using your total revenue minus the cost to of the goods you sold. Find out how net come is different.
These five income components sum to net domestic income at factor cost. Two adjustments must be made to get GDP: Taxes on production and imports minus subsidies are added to get from factor cost to market prices. Depreciation (or capital consumption allowance) is added to get from net domestic product to gross domestic product.
Adjusted gross income is an important number used to determine how much you owe in taxes. It's a factor in determining your federal tax bracket and taxable income -- the portion of your income ...