| A | B |
|---|
| national income accounting | a system of statistics and accounts that keeps track of production , consumption , saving and investment |
| GDP | the dollar amount of all fianl goods and services produced within the country |
| structures | includes apartments, residential housing, and building for commercial purposes |
| intermediate products | products that are used in making other products already counted in GDP |
| secondhand products | the sales of used goods |
| nonmarket transactions | services that do not take place in the market |
| underground economy | the sales that are done illegally |
| GNP | the dollar value of all final off all sales witht he labor of peopel from the US |
| national net product | ==== GNP -- Capital consumption allowances |
| capital consumption allowances | the depreciation or toher detrioration of the capital stock that takes place as a result of production |
| national income | net product minus all the taxes that business' pay bot be a business |
| indirect business taxes | excies taxes , property taxes, licensing fees, custom duties, and general sales taxes |
| personal income | amount that is going to people before taxes are taken |
| retained earnings or undistributed corperate profits | money that is reinvested into the company |
| disposible personal income | the actual money received after taxes |
| 5 measures of income | GNP, Net National Product, National Income, Personal Income, Disposible Personal Income |
| household | all persons that occupy a house |
