Search results
Results from the WOW.Com Content Network
Factor cost or national income by type of income is a measure of national income or output based on the cost of factors of production, instead of market prices. This allows the effect of any subsidy or indirect tax to be removed from the final measure. [1] The concept of factor cost is focusing on the cost incurred on the factor of production.
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).
This formula uses the expenditure method of national income accounting. When net national income is adjusted for natural resource depletion , it is called Adjusted Net National Income , expressed as
Although the net national product is a key identity in national accounting, its use in economics research is generally superseded by the use of the gross domestic or national product as a measure of national income, a preference which has been historically a contentious topic (see e.g. Boulding (1948) [3] and Burk (1948) [4]).
Net national product (NNP) is National Income plus or minus the statistical discrepancy that accumulates when aggregating data from millions of individual reports. In this case, the statistical discrepancy is US$25.6 billion, or about 0.23% of the gross domestic product.
For more than two decades, Madison Vaughan has built a sweet relationship with her longtime mailman, Tim, highlighting the importance of community
Alcohol is used as a social lubricant, maybe more so as holiday festivities approach. But drinking carries health and other risks. Here are five tips to make it safer.
Factor income (also called Primary income or Earned Income) is the flow of income that is derived from the factors of production, i.e., the general inputs required to produce goods and services. Factor income on the use of land is called rent , income generated from labor is called wages , and income generated from capital is divided between ...