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11 Cards in this Set
- Front
- Back
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Green GDP |
A measure of GDP which takes account of the environmental costs of production such as pollution or resource depletion. |
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Gross domestic product (GDP) |
A measure of the output or value added to an economy which does not include output or income from investments abroad or an allowance for the depreciation of the nation's capital stock. |
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Gross national income (GNI) |
The value of the goods and services produced by a country over a period of time (GDP) plus net overseas interest payments and dividends (factor incomes). |
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Gross national product (GNP) |
The market value of goods and services produced over a period of time through the labour or property supplied by citizens of a country both domestically (GDP) and overseas. |
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Hidden, black or informal economy |
Economic activity where trade and exchange takes place but which goes unreported to the tax authorities and those collecting national income statistics. |
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Net national income |
A measure of national income which includes both net income from investments abroad and an allowance for depreciation of the nation's capital stock. |
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Per person or per capita |
Per individual in a population. |
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Purchasing power parities |
An exchange rate of one currency for another which compares how much a typical basket of goods in one country costs compared to that of another country. |
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Standard of living |
How well off an individual, household or economy is, measured by a complex mix of variables such as income, health, the environment, participation in society and political freedoms. |
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Transfer payments |
Income for which there is no corresponding output, such as unemployment benefits or pension payments. |
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Value and volume of national income |
The value of national income is its monetary value at the process of the day; the volume is national income adjusted for inflation and is expressed either as an index number or in money terms at the prices in a selected base year. |
