NATIONAL INCOME MEASUREMENT Flashcards
Net National Product (NNP)
GNP-Depreciation
Net Domestic Price (NDP)
GDP-Depreciation
Personal Income (PI)
NI-Corporate(private and public) retained earnings
Disposable Personal Income
PI-(Direct Taxes+SSS+Pag Ibig contributions)
INCLUDE UNION CHECK OFF
Personal Savings (PS)
DPI-Personal Consumption Expenditures (C)
Per capita GNP
=Real GNP/Population
GNP Deflator
=nominal GNP/Real GNP
Real GNP
nominal GNP/GNP deflator
Final Expenditure Approach
C (Personal Consumption Expenditures) +
I (Gross private and public domestic investment) +
G (Government expenditures +
(X-M)
Value Added Approach
AFF ( Agricultural, Fisheries and forestries Sector) + IS (Industry Sector) + SS (Service Sector)
National Income 1
FI (of persons) + CI (private corporate) + GI (government)
Factor Income Approach
NI + Depreciation + indirect taxes (IBT) - subsidies
GNP
GDP + NFIA
C
Personal Consumption of Goods
Consumer Non-durable Consumer Durable Consumer Services
I
Gross private and public domestic investment
- Fixed Capital
- Construction
- Durable capital equipment
- breeding stock and orchards
- depreciation (mostly add to FI approach instead) - Changes in Inventories
Net Investment
Gross investment - depreciation
G
Government spending on goods and services
(X-M)
X - exports M - Imports
X>M
positive impact
X<M
negative impact
X=M=0
stagnant
AFF
Agriculture, Fisheries, and Forestry sector
SS
Service Sector
- Transportation, communication, and storage
- trade
- finance
- ownership of dwellings and real estate
- private service
- government service
IS
Industry Sector
- Mining
- quarrying
- manufacturing
- construction
- electric gas and water
