| A | B |
|---|
| National Income Accounting | measurement of the national economy's performance, dealing with the overall economy's output and income |
| Gross Domestic Product (GDP) | the government should represent the will of the people |
| net exports | difference between what the nation sells to others and what it buys from other countries |
| depreciation | loss of value because of wear and tear to durable goods and capital goods |
| net domestic product | value of the nations total oupput (GDP) minus the total value lost through depreciation on equipment |
| national income (NI) | total income earned by everyone in the economy |
| Prsonal Income (PI) | total income that individuals receive before personal taxes are paid |
| transfer payments | welfare and other supplementary payments that a state or the federal government makes to individuals |
| Disposable Personal Income ((DI) | income remaining for people to spend or save after all taxes have been paid |
