Components of Net Output
The value of an aggregate net output is normally understood to be equal to the sum of
- labour costs (or Compensation of employees),
- depreciation (or consumption of fixed capital),
- income tax and indirect tax imposts on production, reduced by government subsidies to producers,
- profit (or operating surplus).
In calculating net output for national accounts, government subsidies received by producing enterprises are normally subtracted from indirect tax levies paid by them during the same accounting period..
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Famous quotes containing the words components of, components, net and/or output:
“Hence, a generative grammar must be a system of rules that can iterate to generate an indefinitely large number of structures. This system of rules can be analyzed into the three major components of a generative grammar: the syntactic, phonological, and semantic components.”
—Noam Chomsky (b. 1928)
“Hence, a generative grammar must be a system of rules that can iterate to generate an indefinitely large number of structures. This system of rules can be analyzed into the three major components of a generative grammar: the syntactic, phonological, and semantic components.”
—Noam Chomsky (b. 1928)
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