The generation of income account shows the types of primary incomes and the sectors, sub-sectors or industries in which the primary incomes originate, as distinct from the sectors or sub-sectors destined to receive such incomes. (SNA)
General sales taxes consist of all general taxes levied at one stage only (e.g. manufacturing or wholesale or retail) plus multi-stage cumulative taxes (also known as cascade taxes) where tax is levied each time a transaction takes place without any deduction for tax paid on inputs. (SNA)
Government agencies that provide goods and services financed largely by taxes and not through normal price transactions. Excludes government enterprises. (BEA)
(Previously gross product originating by industry). GDP by industry is the contribution of each private industry and of government to the nation’s output, or GDP. An industry\’s GDP, or its \”value added,\” is equal to its gross output (which consists of sales or receipts and other operating income, commodity taxes, and inventory change) minus its […]
Income-based GDP is compensation of employees, plus taxes less subsidies on production and imports, plus gross mixed income, plus gross operating surplus. (SNA)
Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services. (SNA)
Full-time equivalent employment is the number of full-time equivalent jobs, defined as total hours worked divided by average annual hours worked in full-time jobs. (SNA)
Price paid by the purchasers of commodities at the wholesale trade level; wholesale purchasers prices are obtained by adding wholesale trade margin plus transportation costs to producers prices. (BEA)
Measures output in the wholesale industry as the addition to the price of a product when the product is sold through wholesale trade. Wholesale margin includes sales and excise taxes collected by the wholesaler. Wholesale margin is calculated when the wholesaler buys and then resells the product. It is calculated as sales less the cost […]
Value Added is the sum of Employee Compensation, Proprietor Income, Other Property Income, and Taxes on Production and Imports less Subsidies (TOPI). Value-Added + Intermediate Expenditures = Output. Value Added is analogous to GDP. Value Added is the difference between an industry’s or an establishment’s total output and the cost of its intermediate inputs. It […]
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