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, national, income and/or output:
“the dread
That how we live measures our own nature,
And at his age having no more to show
Than one hired box should make him pretty sure
He warranted no better,”
—Philip Larkin (1922–1985)
“I came here for one thing only, to try to help national Ireland—and if there is no such thing in existence then the sooner I pay for my illusions the better.”
—Roger Casement (1864–1916)
“I know everybody’s income and what everybody earns,
And I carefully compare it with the income-tax returns;”
—Sir William Schwenck Gilbert (1836–1911)
“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)