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GOVERNMENT EXPENDITURES: Spending by the government sector including both the purchase of final goods and services, or gross domestic product, and transfer payments. Government expenditures are used by the government sector to undertake key functions, such as national defense and education. These expenditures are financed with a combination of taxes and borrowing.
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NATIONAL INCOME AND PRODUCT ACCOUNTS: The official government system of collecting, processing, and reporting assorted production and income measures used to track aggregate activity in the macroeconomy. This system of accounts, maintained by the Bureau of Economic Analysis in the Department of Commerce, is the source of official estimates of gross domestic product, net domestic product, national income, personal income, disposable income, gross national product, and related measures that are published quarterly and annually. The National Income and Product Accounts is only one of several sets of data processed and reported by the Bureau of Economic Analysis. See also | Bureau of Economic Analysis | gross domestic product | net domestic product | national income | personal income | disposable income | gross national product |
Recommended Citation:NATIONAL INCOME AND PRODUCT ACCOUNTS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: January 24, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: National Income and Product Accounts
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INFERIOR GOOD A good for which a change in income causes an opposite change in demand. That is, an increase in income causes a decrease in demand and a decrease in income causes an increase in demand. The income elasticity of demand for an inferior good is negative. An inferior good is one of two alternatives falling within the buyers' income demand determinant. The other is a normal good.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a rechargeable flashlight or storage boxes for your computer software CDs. Be on the lookout for cardboard boxes.
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The average length of a "business lunch" is about 36 minutes.
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"Wherever you go, no matter what the weather, always bring your own sunshine." -- Anthony J. D'Angelo
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JIE
Journal of Industrial Economics
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