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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.

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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."

References

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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