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6 National Accounting Formulas (Expenditure approach)

C = Personal consumption expenditures I = Gross private domestic investment G = Government consumption expenditures X = Net exports of goods and services M = Net imports of goods and services NR = Net income from assets abroad (net income receipts) CC = Consumption of fixed capital IBT = Indirect business taxes GDP = C + I + G + (X - M) GNP = C + I + G + (X - M) + NR NI = C + I + G + (X - M) + NR - CC - IBT

7 United States income and output

To give an example of the components and their size. ([2])

**National income and output (Billions of dollars)**
Period Ending	2003
Gross national product	11,059.3
Net U.S. income receipts from rest of the world	55.2
U.S. income receipts	329.1
U.S. income payments	273.9
Gross domestic productIn economics, the gross domestic product GDP is a measure of the amount of the economic production of a particular territory in financial capital terms during a specific time period. Definition GDP is defined as the total value of all goods and services p	11,004.1
Private consumption of fixed capital	1,135.9
Government consumption of fixed capital	218.1
Statistical discrepancy	25.6
National Income	9,679.7

8 Sources of data

US Bureau of Economic Analysis

9 Alternate economic measures

Gross Happiness Index
Genuine Progress Index
Human Development Index

10 See also

National Income and Product AccountsNational Income and Product Accounts (NIPA) use double entry accounting to report the monetary value and sources of output produced in a country and the distribution of incomes that production generates. Data are available at the national and industry lev

11 External links

MacroeconomicsMacroeconomics is the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. Macroeconomics can be used to analyse

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