Other national accounts are derived from GDP. Net domestic product (NDP) is GDP less the consumption of

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Other national accounts are derived from GDP. Net domestic product (NDP) is GDP less the consumption of fixed capital. National income (NI) is total income earned by a nation’s resource suppliers plus taxes on production and imports;

it is found by subtracting a statistical discrepancy from NDP and adding net foreign factor income to NDP.

Personal income (PI) is the total income paid to households prior to any allowance for personal taxes. Disposable income

(DI) is personal income after personal taxes have been paid. DI measures the amount of income available to households to consume or save.

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Economics Principles Problems And Policies

ISBN: 9780073511443

19th Edition

Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn

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