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 (1817–1862)
“Him the Almighty Power
Hurld headlong flaming from th’ Ethereal Skie
With hideous ruine and combustion down
To bottomless perdition, there to dwell
In Adamantine Chains and penal Fire,
Who durst defie th’ Omnipotent to Arms.
Nine times the Space that measures Day and Night
To mortal men, he with his horrid crew
Lay vanquisht, rowling in the fiery Gulfe”
—John Milton (1608–1674)
“The progress
Is permanent like the preordained bulk
Of the First National Bank
Like fish sauce, but agreeable.”
—John Ashbery (b. 1927)
“There are few sorrows, however poignant, in which a good income is of no avail.”
—Logan Pearsall Smith (1865–1946)
“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 Spiering’s Lizzie (1985)