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REAL-BALANCE EFFECT: A change in aggregate expenditures on real production made by the household, business, government, and foreign sectors that results because a change in the price level alters the purchasing power of money. This is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are interest-rate effect and net-export effect.
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                           NET NATIONAL PRODUCT: The total market value of all final goods and services produced by citizens of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. Net national product (NNP) has the same relation to net domestic product (NDP) as gross national product (GNP) has to gross domestic product (GDP). Net national product also has the same relation to gross national product that net domestic product has to gross domestic product. Like NDP, NNP is a measure of the net production in the economy. The key difference between NNP and NDP is identical to that between GNP and GDP. Net national product measures all output produced by citizens of a nation, regardless of where that production takes place, and net domestic product measures all output produced within the political boundaries of a nation, regardless of the citizenry of those doing the producing. The difference between NNP and NDP is net foreign factor income.In the same way that NDP is derived from GDP by subtracting capital depreciation, specifically the capital consumption adjustment (CCA), NNP is derived from GNP by subtracting the capital consumption adjustment. When GNP gave way to GDP as the primary measure of gross production in the early 1990s, so too did NNP give way to NDP as the primary measure of net production in the economy. NNP can still be derived from the numbers provided by the Bureau of Economic Analysis, but it is seldom if ever reported with other standard measures of production and income.
Recommended Citation:NET NATIONAL PRODUCT, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: July 17, 2019].
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Today, you are likely to spend a great deal of time at a garage sale trying to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for slow moving vehicles with darkened windows.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"God grants victory to perseverance. " -- Simon Bolivar, South American liberator
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ICC
International Chamber of Commerce
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