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Reclassifications, one of the three I-O methods for handling secondary products, are made as part of the preparation of the standard I-O make and use tables. Reclassifications are made when BEA decides that a product that the Census Bureau has designated as a primary product should instead be treated for I-O purposes as a secondary […]
The inputs that are reassigned along with the redefined output of secondary products. Both intermediate inputs and value-added components are reallocated in moving from the use table before redefinitions to the use table after redefinitions. They are subtracted from the industry that produced the secondary product and added to the industry for which the product […]
Merchandise bought and sold without being processed further; for example, hair care products sold at barber shops and beauty shops. Reselling is the primary activity of wholesale and retail establishments, and it also occurs in most other industries. (BEA)
Domestically produced goods that were previously exported for processing or assembly, or both, and then returned to the United States. They are also referred to as merchandise returned. (BEA)
Goods of foreign origin that were previously imported into the United States and subsequently exported to a foreign country in substantially the same condition as when imported. (BEA)
Method used in the preparation of updated I-O accounts that are based on partial survey information. The technique applies row and column balancing factors iteratively until the adjusted matrix (the transactions table) satisfies the row and column totals (commodity and industry output). The technique converges to a solution resulting in a balanced I-O matrix. (BEA)
Price paid by industries and final users for the goods and services they use. Purval is equal to producers value plus trade (wholesale and retail) margins and transportation costs. (BEA)
Proprietor Income consists of payments received by self-employed individuals and unincorporated business owners. This includes current-production income of sole proprietorships, partnerships, and tax-exempt cooperatives. It excludes dividends (payments in cash or other assets, excluding the corporation’s own stock, made by corporations located in the United States and abroad to stockholders who are US residents), monetary […]
One of the three fundamental principles underlying the I-O accounts. Under this principle, all inputs consumed by an I-O industry are a linear function of the level of output—that is, the inputs consumed vary in direct proportion to output and there are no economies of scale. The other two principles are consistency and homogeneity. (BEA) […]
Price received by the producer for goods and services that are sold. Proval is equal to basic value plus commodity taxes. (BEA)
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