depreciation or consumption of fixed capital measures quizlet

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 product (GNP), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost). England, R. W. (1998). The net income measure uses depreciation, while the free cash flow measure uses last period ‘s net capital purchases. The income side of the report is derived from BEA NIPA Tables 1.7.5 (Relation of gross domestic product, gross national product, net national product, national income, and personal income) and 1.12 (National income by type of income).

For the third year, the depreciable cost becomes $360 with a depreciation of $144, and so on. Net interest and miscellaneous payments is interest paid minus interest received plus payments to individuals and corporations that are not elsewhere classified (NEC).

There is a 0.1 (US$100M or 0.00091%) rounding error from the official GDP (11,004.0) in the recalculated sum on the Product Accounts side. While the report includes the net value of interest payments and receipts, both the taxes paid and subsidies from the government are shown. The production side report also begins with individuals and families, in this case their personal consumption expenditures on goods and services, C in the definition. The production side of the report is derived from BEA NIPA Table 1.1.5 (Gross domestic product).

Since wages and salaries affect more individuals and families directly than the other sources of income, it has by far the largest value. This is because income and expenditure are defined in a way that forces them to be equal (see The U.S. report (updated quarterly) is available in several forms, including interactive, from links on the Bureau of Economic Analysis (BEA) NIPA (The income side of the national income and product account report begins with the kinds of income people might have.

The expenditure approach is basically an output accounting method. Taxes on production and imports does not include corporate income tax payments to the states and to the federal government.

Services includes everything else, everything we buy that has little or no physical presence, like banking, health care, insurance, movie tickets, and so on. The output approach focuses on finding the total output of a nation by directly finding the total value of all goods and services a nation produces. The total value produced by the economy is the sum of the values-added by every industry.

Fixed investment in economics is the purchasing of newly produced fixed capital.It is measured as a flow variable – that is, as an amount per unit of time..

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depreciation or consumption of fixed capital measures quizlet