ECON 102 Lecture Notes - Lecture 6: Per Capita Income, Real Income, Income Distribution
Document Summary
National disposable income (ndi) = national income (plus, minus) net transfer receipts/payments. This concept becomes useful where a country receives substantial transfers from abroad either to the government or to individual residents or, alternatively, where the residents of a given country send out substantial remittances. For uniformity purposes, national income is measured in monetarily. However, a change in the value of money can arise due to changes in either quantity or price. This refers to the measurement of total output in current prices. The money values of total output, total factor incomes and total expenditure. The actual dollar amount that the person receives as income and has not been adjusted for the inflation rate (i. e. inflation is the increase in the general price level which means that. Nominal national income is the aggregate income within a country, expressed in currency terms, that does not account for diminished purchasing power because of inflation or outstanding debt.
