Google
Friday 
January 19, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
SMALL BUSINESS: The businesses in our economy that individually produce very little output, have little or no market control, but collectively produce about half of our total production. Most small business owners may aspire to the ranks of the second estate, but they're card-carrying members of the third.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 10: Gross Domestic Product | Unit 4: Measuring Income Page: 18 of 25

Topic: National Income <=PAGE BACK | PAGE NEXT=>

The first three related, but slightly different income measures is national income (NI), income earned by the factors of production.
  • National income is the sum of wages (W), interest (I), rent (R), profit (P) and proprietors' income (PI):

NI = W + I + R + P + PI

  • National income is also found by subtracting capital consumption allowance (CCA) and indirect business taxes (IBT) from, and adding net foreign factor income (NFFI) to, GDP:

NI = GDP - CCA - IBT + NFFI

  • And because NDP = GDP - CCA:

NI = NDP - IBT + NFFI


Course Home | Lesson Menu | Page Back | Page Next

LAW

A generally accepted, verified, proven, fundamental scientific relation. A law is a scientifically certified, thoroughly verified, cause-and-effect relation about the workings of the world. It has been tested and retested through the scientific method. The law of demand, law of increasing opportunity cost, and law of diminishing marginal utility are three fundamental (and extremely important) economic laws of nature.

Complete Entry | Visit the WEB*pedia


APLS

WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a large flower pot shaped like a Greek urn or a small palm tree that will fit on your coffee table. Be on the lookout for the happiest person in the room.
Your Complete Scope

This isn't me! What am I?

Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"You are never given a dream without also being given the power to make it true."

-- Richard Bach, Author

LCH
Life Cycle Hypothesis
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster