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Keeping track of your employee's net pay and gross pay is important for tracking payroll taxes. If there are any inconsistencies between the two, you may want to verify the information.
It is equal to the value of net output or GDP (also known as gross value added) plus intermediate consumption. Gross output represents, roughly speaking, the total value of sales by producing enterprises (their turnover) in an accounting period (e.g. a quarter or a year), before subtracting the value of intermediate goods used up in production.
Thus, if we want to know the total sale value of the output of the car factory, the relevant measure is not the "net output" (the value-added), but rather the gross output. If, for example, we wanted to calculate a "unit labour-cost" for the output value of the cars, the appropriate ratio is between labour costs and the gross output value of ...
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).
In these cases it is contrasted with the term gross, which refers to the pre-deduction value. For example, net income is the total income of a company after deducting its expenses —commonly known as profit —or the total income of an individual after deducting their income tax .
Data from the U.S. Census Bureau highlights this stark difference: married householders under 35 boast a median net worth 9.2 times higher than unmarried women and 3.1 times higher than unmarried men.
Gross national product (GNP) is the market value of all the goods and services produced in one year by labor and property supplied by the citizens of a country. Unlike gross domestic product (GDP), which defines production based on the geographical location of production, GNP indicates allocated production based on location of ownership.
Technically, anything over 20 years old can be coined "vintage." But when you truly think of items worth this title, your brain doesn't go to Beanie Babies. Instead, it conjures up images of vinyl...