Unit 2- Budget, Trade, National Income, Disposable National Income

Unit 2 - Budget, Trade, National Income, Disposable National Income

Compensation of employees: wages, salaries, frenge benefits, social security contributions, health and pension plans. 

02/02/2016

Budget: Government Purchases + Government Transfer Payment - Government Tax and Fee Collection 

Trade= (exports -imports) + =surplus

- =deficit 

Budget= + =deficit, - =surplus

Two ways in calculating National Income

National Income= Compensation of employment + Rental Income + Interest Income + Corporate Profit + Properitor Income

National Income= Another way of GDP | Indirect business tax - deappreciatation - net foreign factor payment...

NDP)

GDP – Depreciation (Consumption of Fixed Capital)

Net National Product (NNP)

GNP – Depreciation

GNP 

GDP + Net Foreign Factor Payment