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September 3, 2015 

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CAPACITY UTILIZATION RATE: The ratio of actual production by business sector factories and other productive establishments in the economy to the potential production of these establishments. This rate indicates if our economy's factories are being used as effectively and as fully as possible. Like the unemployment rate, the capacity utilization rate measures how close our economy is to full employment. And like unemployment, this rate moves up and down over the course of a business cycle. During expansions, the rate is near 85 percent (considered full employment), and during contractions, it tends to be in the 70 percent range. In addition to an overall rate, there are also separate rates for manufacturing, mining, and utility industries.

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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.

<= INCOME CHANGE, UTILITY ANALYSISINCOME EFFECT =>


Recommended Citation:

INCOME EARNED BUT NOT RECEIVED, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2015. [Accessed: September 3, 2015].


Check Out These Related Terms...

     | personal income and national income | income received but not earned | transfer payments | corporate profits distribution | factor payments | net domestic product | national income | disposable income | gross domestic income | personal taxes and nontax payments |


Or For A Little Background...

     | personal income | gross domestic product, income | circular flow | gross domestic product | National Income and Product Accounts | Bureau of Economic Analysis | National Bureau of Economic Research |


And For Further Study...

     | disposable income and personal income | gross domestic product, expenditures | gross domestic product, ins and outs | gross domestic product, welfare | business cycles | gross national product | real gross domestic product | national income and gross domestic product | national income and net domestic product |


Related Websites (Will Open in New Window)...

     | Bureau of Economic Analysis |


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U.S. Exports
June 2015
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