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BUDGET SURPLUS: An excess of budgetary revenues over expenditures. This seemingly rare event is in fact commonly practiced by many state and local governments -- albeit often because of constitutional mandates. The federal government has even accomplished this feat once or twice. Consumers operate a budget surplus whenever they're able to put a little bit of their income into saving.
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NET DOMESTIC PRODUCT: The total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. Net domestic product, usually abbreviated NDP, is one of five key National Income and Product Accounts measures reported regularly (every three months) by the Bureau of Economic Analysis. The other four measures are gross domestic product, national income, personal income, and disposable income. Net domestic product has largely replaced a comparable term, net national production. See also | gross domestic product | depreciation, capital | capital consumption adjustment | National Income and Product Accounts | Bureau of Economic Analysis | national income | personal income | disposable income |
Recommended Citation:NET DOMESTIC PRODUCT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: July 26, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: net domestic product
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ECONOMY The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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EJ
Economic Journal
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