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Real Income
Real income is the income of individuals or nations after adjusting for inflation. It is calculated by dividing nominal income by the price level. Real variables such as real income and real GDP are variables that are measured in physical units, while nominal variables such as nominal income and nominal GDP are measured in monetary units. Therefore, real income is a more useful indicator of well-being since it measures the amount of goods and services that can be purchased with the income. Growth of real income is related to real gross national income per capita growth. According to the classical dichotomy theory, real variables and nominal variables are separate in the long run, so they are not influenced by each other. In other words, if the nominal starting income was 100 and there was 10% inflation (general rise in prices, for example, what cost 10 now costs 11), then with nominal income of still 100, one can buy roughly 9% less; so if nominal income was not a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Individuals
An individual is one that exists as a distinct entity. Individuality (or self-hood) is the state or quality of living as an individual; particularly (in the case of humans) as a person unique from other people and possessing one's own needs or goals, rights and responsibilities. The concept of an individual features in many fields, including biology, law, and philosophy. Every individual contributes significantly to the growth of a civilization. Society is a multifaceted concept that is shaped and influenced by a wide range of different things, including human behaviors, attitudes, and ideas. The culture, morals, and beliefs of others as well as the general direction and trajectory of the society can all be influenced and shaped by an individual's activities. Etymology From the 15th century and earlier (and also today within the fields of statistics and metaphysics) ''individual'' meant " indivisible", typically describing any numerically singular thing, but sometimes meani ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Goods And Services
Goods are items that are usually (but not always) tangible, such as pens or Apple, apples. Services are activities provided by other people, such as teachers or barbers. Taken together, it is the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and Service (economics), services which underpins all economic activity and trade. According to Economics, economic theory, consumption of goods and services is assumed to provide utility (satisfaction) to the consumer or end-user, although businesses also Distribution (marketing)#Channels and intermediaries, consume goods and services in the course of producing their own. History Physiocracy, Physiocratic economists categorized production into productive labour and unproductive labour. Adam Smith expanded this thought by arguing that any economic activities directly related to material products (goods) were productive, and those activities which involved no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
List Of Countries By GNI (nominal) Per Capita
This is a list of countries by gross national income per capita in 2023 at nominal values, according to the Atlas method, an indicator of income developed by the World Bank. The GNI per capita is the dollar value of a country's final income in a year, divided by its population. It should be reflecting the average before tax income of a country's citizens. Knowing a country's GNI per capita is a good first step toward understanding the country's economic strengths and needs, as well as the general standard of living on average. A country's GNI per capita tends to be closely linked with other indicators that measure the social, economic, and environmental well-being of the country and its people. The GNI per capita at Purchasing power parity are shown at list of countries by GNI (PPP) per capita. Change of GNI per capita with time are at list of countries by GNI per capita growth. List of countries and dependencies All data is in U.S. dollars. Rankings shown are those given ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
List Of Countries By Income Equality
This is a list of Country, countries and Dependent territory, territories by income inequality metrics, as calculated by the World Bank, UNU-WIDER, OCDE, and World Inequality Database, based on different indicators, like the Gini coefficient and specific income ratios. Income from black market economic activity is not included. The Gini coefficient is a number between 0 and 1 or 100, where 0 represents perfect equality (everyone has the same income). Meanwhile, an index of 1 or 100 implies perfect inequality (one person has all the income, and everyone else has no income). Income ratios include the pre-tax national income share held by the top 10% of the population and the ratio of the upper bound value of the ninth decile (i.e., the 10% of people with the highest income) to that of the upper bound value of the first decile (the ratio of the average income of the richest 10% to the poorest 10%). Income distribution can vary greatly from List of countries by wealth inequality, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Income Distribution
In economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. About Classical economists such as Adam Smith (1723–1790), Thomas Malthus (1766–1834), and David Ricardo (1772–1823) concentrated their attention on factor income-distribution, that is, the Distribution (economics), distribution of income between the primary factors of production (Land (economics), land, Labour economics, labour and Capital (economics), capital). Modern economists have also addressed issues of income distribution, but have focused more on the distribution of income across individuals and households. Important theoretical and policy concerns include the balance between income inequality and economic growth, and their often inverse relati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Net National Income
In national income accounting, net national income (NNI) is net national product (NNP) minus indirect taxes. Net national income encompasses the income of households, businesses, and the government. Net national income is defined as gross domestic product plus net receipts of wages, salaries and property income from abroad, minus the depreciation of fixed capital assets (dwellings, buildings, machinery, transport equipment and physical infrastructure) through wear and tear and obsolescence. It can be expressed as \mathrm = \mathrm + \mathrm + \mathrm + \mathrm + \leftright- \leftright- \leftright/math> where denotes consumption, denotes investment, denotes government spending, and represents net exports (exports minus imports: ). This formula uses the expenditure method of national income accounting. When net national income is adjusted for natural resource depletion, it is called ''Adjusted Net National Income'', expressed as \mathrm^* = \mathrm - \leftright/math> Na ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Median Income
The median income is the income amount that divides a population into two groups, half having an income above that amount, and half having an income below that amount. It may differ from the mean (or average) income. Both of these are ways of understanding income distribution. Median income can be calculated by household income, by personal income, or for specific demographic groups. When taxes and mandatory contributions are subtracted from income, the result is called net or disposable income. The measurement of income from individuals and households, which is necessary to produce statistics such as the median, can pose challenges and yield results inconsistent with aggregate national accounts data. For example, an academic study on the Census income data claims that when correcting for underreporting, U.S. median gross household income was 15% higher in 2010 (table 3). Median equivalised disposable income (OECD) See also * Disposable household and per capita income *I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Disposable Household And Per Capita Income
Household income is a measure of income received by the household sector. It includes every form of cash income, e.g., salaries and wages, retirement income, investment income and cash transfers from the government. It may include near-cash government transfers like food stamps, and it may be adjusted to include social transfers in-kind, such as the value of publicly provided health care and education. Household income can be measured on various bases, such as per household income, per capita income, per earner income, or on an equivalised basis. Because the number of people or earners per household can vary significantly between regions and over time, the choice of measurement basis can impact household income rankings and trends. When taxes and mandatory contributions are subtracted from household income, the result is called net or disposable household income. A region's mean or median net household income can be used as an indicator of the purchasing power or material well- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
National Average Salary
The national average salary (or national average wage) is the mean salary for the working population of a nation. It is calculated by summing all the annual salaries of all persons in work (surveyed) and dividing the total by the number of workers (surveyed). It is not the same as the Gross domestic product (GDP) per capita, which is calculated by dividing the GDP by the total population of a country, including the unemployed and those not in the workforce (e.g. retired people, children, students, etc.). It can be useful in understanding economic conditions, and to employers and employees in negotiating salaries. The national median salary is usually significantly less than the national average salary because the distribution of workers by salary is skewed. Examples of usage * The United States Social Security Administration calculates a "national average wage index", used to index past wages of workers by multiplying them by the ratio of the current wage index to the wage ind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
New Caledonia
New Caledonia ( ; ) is a group of islands in the southwest Pacific Ocean, southwest of Vanuatu and east of Australia. Located from Metropolitan France, it forms a Overseas France#Sui generis collectivity, ''sui generis'' collectivity of the French Republic, a legal status unique in overseas France, and is enshrined in a dedicated chapter of the French Constitution. The archipelago, part of the Melanesia subregion, includes the main island of Grande Terre (New Caledonia), Grande Terre, the Loyalty Islands, the Chesterfield Islands, the Belep archipelago, the Isle of Pines (New Caledonia), Isle of Pines, and a few remote islets. The Chesterfield Islands are in the Coral Sea. French people, especially locals, call Grande Terre , a nickname also used more generally for the entire New Caledonia. Kanak people#Agitation for independence, Pro-independence Kanak parties use the name (''pron.'' ) to refer to New Caledonia, a term coined in the 1980s from the ethnic name of the indi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In its early years, it primarily focused on rebuilding Europe. Over time, it focused on providing loans to developing world countries. In the 1970s, the World Bank re-conceptualized its mission of facilitating development as being oriented around poverty reduction. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Long Run
In economics, the long-run is a theoretical concept in which all markets are in equilibrium, and all prices and quantities have fully adjusted and are in equilibrium. The long-run contrasts with the short-run, in which there are some constraints and markets are not fully in equilibrium. More specifically, in microeconomics there are no fixed factors of production in the long-run, and there is enough time for adjustment so that there are no constraints preventing changing the output level by changing the capital stock or by entering or leaving an industry. This contrasts with the short-run, where some factors are variable (dependent on the quantity produced) and others are fixed (paid once), constraining entry or exit from an industry. In macroeconomics, the long-run is the period when the general price level, contractual wage rates, and expectations adjust fully to the state of the economy, in contrast to the short-run when these variables may not fully adjust. History The d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
