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Income Estimate of Gross Domestic Product

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PPGPortal > Home > Concept Dictionary > I, J > Income Estimate of Gross Domestic Product
Income Estimate of Gross Domestic Product 

An estimate of the Gross Domestic Product of a jurisdiction that is arrived at by adding up the total “income” earned by people and firms in the country.

Peter Dungan, Toronto  PPG1002H,  and Mankiw et al.


Some of the major components of the income estimate of GDP are: wages and salaries, corporate profits, and investment income.  The income estimate is one of two ways of estimating the GDP of a jurisdiction, with the other being the "expenditure estimate."


Peter Dungan, Toronto  PPG1002H

Mankiw, N., R. Kneebone, K. McKenzie and N. Rowe. Principles of Macroeconomics, 4th ed. Nelson College Indigenous, 2007.



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