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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).
For example, if there is a foreign financial surplus (or capital surplus) because capital is imported (net) to fund the trade deficit, and there is also a private sector financial surplus due to household saving exceeding business investment, then by definition, there must exist a government budget deficit so all three net to zero. The ...
In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period.
Net national income encompasses the income of households, businesses, and the government. Net national income is defined as gross domestic product plus net receipts of wages , salaries and property income from abroad, minus the depreciation of fixed capital assets (dwellings, buildings, machinery, transport equipment and physical infrastructure ...
National income (NI) is the sum of employees, proprietors, rental, corporate, interest, and government income less the subsidies government pays to any of those groups. Net national product (NNP) is National Income plus or minus the statistical discrepancy that accumulates when aggregating data from millions of individual reports.
Infrastructure spending is considered government investment because it will usually save money in the long run, and thereby reduce the net present value of government liabilities. Spending on physical infrastructure in the U.S. returns an average of about $1.92 for each $1.00 spent on nonresidential construction because it is almost always less ...
The government budget can be directly introduced into the model. We consider now an open economic model with public deficits or surpluses. Therefore the budget is split into revenues, which are the taxes (T), and the spendings, which are transfers (TR) and government spendings (G). Revenue minus spending results in the public (governmental) saving:
This would mean the government is a net saver, removing funds from the private sector. A deficit balance means government outlays are greater than tax revenue and it is reducing its net financial asset position (i.e., increasing its debt position), providing funds to the private sector.