national income

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National Income

The total income of the persons in a nation. Gross domestic product is calculated by adding together total consumer spending, total government spending, total business spending, the value of net exports and payments received from other countries. One then subtracts all payments made to other countries and indirect business taxes. While it is not as common a measure as GDP, it may be used as a measure of the health of a country's economy. See also: GNP.
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national income


factor income

the total money income received by households in return for supplying FACTOR INPUTS to business over a given period of time. National income is equal to NET NATIONAL PRODUCT and consists of the total money value of goods and services produced over the given time period (GROSS NATIONAL PRODUCT) less CAPITAL CONSUMPTION.


Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The national income declined from NIS 414.6 billion to NIS 398.1 billion (a decrease of 4%).
Two transformations are required in order to obtain a measure of national income. In the Hicksian definition, an economic agent's income is the maximum amount which it can consume during the relevant period without changing the real value of its assets, or wealth.
In the traditional view, money demand is a function of national income ([theta] = 0).
The initial chapter discusses the concept of national income estimation and its limitations.
Yet the continuous time analysis usually employed in growth theory does not explain how national income may fluctuate from period to period and in the medium term with reference to domestic and international factors, including consumption, investment, government spending, the current account balance, world interest rates, and capital flows.
7 Gross national income 19,590.1 19,762.1 19,957.4 20,179.2
September 25 2011 (TUR) -- Turkish Development Minister Cevdet Yilmaz said that Turkey targeted to have more than two trillion USD of national income by 2023.
Social welfare spending, including pension and medical insurance payouts, rose to a record high of 83.57 trillion yen in fiscal 2002, equivalent to an all-time high of 23.03 percent of national income, a government research institute said Monday.
BRUSSELS, Jun 21, 2011 (TUR) -- The difference between Turkey and the EU is diminishing in terms of national income per capita.
In contrast, net income from assets by Japanese banks and other financial institutions fell by 400 billion yen to 23.6 trillion yen, the first decline in four years, the EPA said in an annual report on national income.

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