Chapter 6
GDP = Final sales + Change in inventory
Ex > IM
Ex < IM
+
-
National income = Compensation of employees + Proprietor income
+ Rental income + Corporate profits +
Net interest + (Indirect taxes - Subsidies) +
Net business transfer payments + Surplus of government enterprises
Net national product (NNP) = Gross national product (GNP) - Depreciation
Personal income = national income - national income not getting to households
National income = GNP - Depreciation
OR
= NNP - Statistical discrepancy
,
