National income
1st formula
Compensation of employees + Rental Income + Interest Income + Proprietress Income+ Corporate Profit
2nd formula
GDP- Indirect business taxes - Depreciation- net foreign factor payments
Disposable Personal Income = National Income - Personal household taxes + government transfer payments
Budget = Government purchases of goods and services = government transfer payments - government tax and fee collection
Positive answer means deficit
Negative answer mean surplus
Trade = Exports minus Imports
Positive answer means surplus
Negative answer means deficit
Net Domestic Product equals GDP- Depreciation
Net National Product equals GNP- Depreciation
Net Investment plus Depreciation equals Gross investment
GNP = GDP + foreign factor payments
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