Campbell R. McConnell,
University of Nebraska, Lincoln
Stanley L. Brue,
Pacific Lutheran University
Thomas P. Barbiero,
Ryerson University
| Capital consumption allowance | Estimate of the amount of capital worn out or used up (consumed) in producing the gross domestic product; depreciation.
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| Consumer price index (CPI) | An index that measures the prices of a fixed "market basket" of some 600 goods and services bought by a "typical" consumer.
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| Disposable income | Personal income less personal taxes; income available for personal consumption expenditures and personal saving.
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| Expenditures approach | The method that adds all expenditures made for final goods and services to measure the gross domestic product.
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| Final goods and services | Goods and services that have been purchased for final use and not for resale or further processing or manufacturing.
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| Government purchases | Disbursements of money by government for which government receives a currently produced good or service in return; the expenditures of all governments in the economy for final goods and services.
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| Gross domestic product (GDP) | The total market value of all final goods and services produced annually within the boundaries of Canada, whether by Canadian or foreign-supplied resources.
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| Income approach | The method that adds all the income generated by the production of final goods and services to measure the gross domestic product.
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| Indirect business taxes | Such taxes as sales, excise, and business property taxes, licence fees, and tariffs that firms treat as costs of producing a product and pass on (in whole or in part) to buyers by charging higher prices.
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| Intermediate goods | Products that are purchased for resale or further processing or manufacturing.
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| Multiple counting | Wrongly including the value of intermediate goods in the gross domestic product; counting the same good or service more than once.
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| National income accounting | The techniques used to measure the overall production of the economy and other related variables for the nation as a whole.
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| Net domestic income | All the income earned by Canadian-supplied resources.
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| Net exports | Exports minus imports.
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| Net investment income | The interest and dividend income received by the residents of a nation from residents of other nations less the interest and dividend payments made by the residents of that nation to the residents of other nations.
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| Nominal gross domestic product | The GDP measured in terms of the price level at the time of measurement (unadjusted for inflation).
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| Personal consumption expenditures | The expenditures of households for durable and nondurable consumer goods and services.
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| Personal income | The earned and unearned income available to resource suppliers and others before the payment of personal income taxes.
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| Price index | An index number that shows how the weighted average price of a "market basket" of goods changes through time.
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| Real GDP | See Real gross domestic product.
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| Value added | The value of the product sold by a firm less the value of the products (materials) purchased and used by the firm to produce the product.
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2002 McGraw-Hill Higher Education