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AGRARIAN: A term signifying a connection to farming, agricultural production, or the land. Agrarian is often used as a modifier for other terms, such as agrarian society (an economy that relies heavily on agricultural production), agrarian society (a society based on the institutions that emerge from a heavy reliance on agricultural production), or agrarian movement (a political movement designed to product agricultural production). Because farming was one of the first and remains one of the most fundamental activities undertaken by even the most primitive society, agrarian is typically associated with less developed, as in the phrase a "less developed, agrarian nation."
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                           INCOME EARNED BUT NOT RECEIVED: The three types of income earned but not received (IEBNR) by the factors of production are Social Security taxes, corporate profits taxes, and undistributed corporate profits. IEBNR is subtracted from national income to calculate personal income. Income earned but not received (IEBNR) is income that factors of production have rightfully "earned" by contributing to the production of gross domestic product. However, because this income is not paid to the factors, it is not income received by the household sector.- Social Security Taxes: Social Security taxes are "contributions" to the Social Security system made by labor. The Social Security system is set up to transfer income earned by labor to the elderly and disabled. In principle, employees "contribute" about 7 percent on the first $60,000 (or so) of their wages (the F.I.C.A. deduction). Employers then match this contribution. In reality, the entire 14 percent is income earned by the employee. Social Security taxes are wages earned, but not received.
- Corporate Profits Taxes: Corporate profits are earned by corporate shareholders through their ownerships of capital, land, and entrepreneurship. Corporate profits taxes are taxes on these corporate profits that are independent of any income taxes paid by individual shareholders. Corporate profits taxes are thus a portion of corporate profits that are not available for dividend payments to the household sector. Corporate profits taxes are profits earned, but not received.
- Undistributed Corporate Profits: Undistributed corporate profits are another portion of the corporate profits that are not paid to the household sector. Commonly termed retained earnings, these are profits that could be paid out as dividends, but are usually retained to finance capital investment projects. Undistributed corporate profits are also profits earned, but not received.
Recommended Citation:INCOME EARNED BUT NOT RECEIVED, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: February 11, 2025].
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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