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). All are specially concerned with counting the total amount of goods and services produced within some "boundary". The boundary is usually defined by geography or citizenship, and may also restrict the goods and services that are counted. For instance, some measures count only goods and services that are exchanged for money, excluding bartered goods, while other measures may attempt to include bartered goods by imputing monetary values to them.
Read more about Measures Of National Income And Output: National Accounts, Market Value, Definitions, GDP and GNP, National Income and Welfare
Famous quotes containing the words measures of, measures, national, income and/or output:
“Those who, while they disapprove of the character and measures of a government, yield to it their allegiance and support are undoubtedly its most conscientious supporters, and so frequently the most serious obstacles to reform.”
—Henry David Thoreau (18171862)
“thou mayst know,
That flesh is but the glass, which holds the dust
That measures all our time;”
—George Herbert (15931633)
“Perhaps our national ambition to standardize ourselves has behind it the notion that democracy means standardization. But standardization is the surest way to destroy the initiative, to benumb the creative impulse above all else essential to the vitality and growth of democratic ideals.”
—Ida M. Tarbell (18571944)
“Some rough political choices lie ahead. Should affirmative action be retained? Should preference be given to people on the basis of income rather than race? Should the system beand can it bescrapped altogether?”
—David K. Shipler (b. 1942)
“Lizzie Borden took an axe
And gave her mother forty whacks;
When she saw what she had done,
She gave her father forty-one.”
—Anonymous. Late 19th century ballad.
The quatrain refers to the famous case of Lizzie Borden, tried for the murder of her father and stepmother on Aug. 4, 1892, in Fall River, Massachusetts. Though she was found innocent, there were many who contested the verdict, occasioning a prodigious output of articles and books, including, most recently, Frank Spierings Lizzie (1985)