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Home Page Social Science Economics Finance National Income Formula - Flashcards

National Income Formula – Flashcards

Josephine Mack
8 July 2022
11 test answers

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question
(Spending Approach)GPD
answer
C+Ig+G+Xn
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(Income Approach)GDP
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W+R+I+P+S
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Net Domestic Product
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NDP= GDP- depreciation
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National Income
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NI= NDP- IBT-NFFIE
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Personal Income
answer
PI= NI-Social Security Contribution Tax-Corporate Income tax-Retained Earnings+Transfer Payments
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question
Disposable Income
answer
DI= PI- Personal Taxes DI=C+S
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question
W
answer
Wages earned for supplying labor (Compensation of Employees)
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question
R
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Rents earned for supplying land
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question
I
answer
Interest(Income) earned by supplying capital
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P
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Profits earned by supplying entrepreneurial skills
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question
S
answer
Statistical Adjustment Margin of Error
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