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# c  is the social science that analyzes the production, distribution, and

consumption of goods and services.


= Country¶s output In most systems of national accounts the .

  measures the ratio of nominal (or current-price) GDP to the real (or chain volume) measure of GDP.     . The formula used to calculate the deflator is:   In economics. the difference between the sale price of a product and the cost of materials and outside services to produce it is the i  .

   .

The net domestic product (NDP) is the equivalent application of NNP within macroeconomics. and NDP is equal to gross domestic product (GDP) minus depreciation: NDP = GDP . NNP also equals total compensation of employees + net indirect tax paid on current production + operating surplus.[1] It is supposed to reflect the average income of a nation's citizens[2]    (NNP) is the total market value of all final goods and services produced by residents in a country or other polity during a given period (gross national product or GNP) minus depreciation. is the market value of all goods and services produced in one year by labor and property supplied by the residents of a country. . Depreciation (also known as consumption of fixed capital) measures the amount of GNP that must be spent on new capital goods to maintain the existing physical capital stock.depreciation. Setting part of NNP aside for investment permits capital stock growth (see economic growth and capital formation). and greater future consumption. NNP is the amount of goods in a given year which can be consumed without reducing future consumption.

[1] Total personal income is a key value in calculating per capita income. supplements to wages and salaries.      is defined by the United States' Bureau of Economic Ñnalysis as income received by persons from all sources. gross national product (GNP). rental income of persons with CCÑdj. personal income receipts on assets. and net national income (NNI). It includes income received from participation in production as well as from government and business transfer payments.[2  .º  Ñ variety of measures of   and output are used in economics to estimate total economic activity in a country or region. proprietors' income with inventory valuation adjustment (IVÑ) and capital consumption adjustment (CCÑdj). less contributions for government social insurance. including gross domestic product (GDP). and personal current transfer receipts. It is the sum of compensation of employees (received).

  is total personal income minus personal current taxes. is the numerical quotient of national production by population. in monetary terms. .