A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI* adjusted for natural resource depletion). All are specially concerned with counting the total amount of goods and services produced within some "boundary". The boundary is usually defined by geography or citizenship, and may also restrict the goods and services that are counted. For instance, some measures count only goods and services that are exchanged for money, excluding bartered goods, while other measures may attempt to include bartered goods by imputing monetary values to them.
Read more about Measures Of National Income And Output: National Accounts, Market Value, Definitions, GDP and GNP, National Income and Welfare
Famous quotes containing the words measures of, measures, national, income and/or output:
“One encounters very capable fathers abashed by their piano-playing daughters. Three measures of Schumann make them red with embarrassment.”
—Alfred Döblin (1878–1957)
“However much we may differ in the choice of the measures which should guide the administration of the government, there can be but little doubt in the minds of those who are really friendly to the republican features of our system that one of its most important securities consists in the separation of the legislative and executive powers at the same time that each is acknowledged to be supreme, in the will of the people constitutionally expressed.”
—Andrew Jackson (1767–1845)
“The cinema is going to form the mind of England. The national conscience, the national ideals and tests of conduct, will be those of the film.”
—George Bernard Shaw (1856–1950)
“Strictly speaking, every citizen above a certain level of income is guilty of some offense.”
—Max Frisch (1911–1991)
“Lizzie Borden took an axe
And gave her mother forty whacks;
When she saw what she had done,
She gave her father forty-one.”
—Anonymous. Late 19th century ballad.
The quatrain refers to the famous case of Lizzie Borden, tried for the murder of her father and stepmother on Aug. 4, 1892, in Fall River, Massachusetts. Though she was found innocent, there were many who contested the verdict, occasioning a prodigious output of articles and books, including, most recently, Frank Spiering’s Lizzie (1985)