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Output represents the value of industry production. In IMPLAN these are annual production estimates for the year of the data set and are in producer prices. For manufacturers this would be sales plus/minus change in inventory. For service sectors production = sales. For Retail and Wholesale trade, Output = gross margin (or Marginal Revenue) and not […]
A term used prior to the 2003 comprehensive NIPA revision for the residual component of value added, sometimes referred to as profit type income. For most industries, OVA was derived by subtracting total intermediate inputs, compensation of employees, and indirect business tax and nontax liability from total industry output. It included consumption of fixed capital, […]
Secondary products that are neither redefined nor reclassified. For these products, which generally have inputs similar to those of the primary products of the industry where they are produced, BEA follows the Census classification. Thus, no adjustments are made that affect either industry or commodity output. (BEA)
Other property income (OPI) represents gross operating surplus minus proprietor income. OPI includes consumption of fixed capital (CFC), corporate profits, and business current transfer payments (net). It includes income derived from dividends, royalties, corporate profits, and interest income. Thus, OPI provides a source of income for households, business, and governments. However, I-O models by default treat […]
A component of personal income that includes employer payments to private pension and profit-sharing plans, publicly administered government employee retirement plans, private group health and life insurance plans, privately administered workers’ compensation plans, supplemental unemployment benefit plans, and several minor categories of employee compensation. The NIPAs now refers to OLI as employer contributions for employee […]
An Opportunity Cost is the benefit that is lost when one choice is made over another.
Not specified by kind. (BEA)
NPISHs (non-profit institutions serving households) consist of NPIs which are not predominantly financed and controlled by government and which provide goods or services to households free or at prices that are not economically significant. (SNA)
Consist of three types of services: (1) Services that are produced and consumed abroad, such as airport expenditures by U.S. airlines in foreign countries; (2) services imports that are unique, such as payments for the rights to patents, copyrights, or industrial processes; and (3) services imports that cannot be identified by type, such as payments […]
Not elsewhere classified. (BEA)
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