1.7.4. Price Indexes for Gross Domestic Product, Gross National Product, and Net National Product from the NIPA: Domestic Product and Income database shown in [Index numbers, 2012=100] Seasonally adjusted Date Type: Qtr; Country: USA; Finance Line Item: Equals: Net national product Sage Data. Sage Publishing Ltd Sage Data [electronic resource]

Corporate Author: Bureau of Economic Analysis
Published: Thousand Oaks, CA : Sage Publications, Inc. 2025

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Summary

GDP is the market value of goods and services produced by labor and property in the U.S., regardless of nationality; GDP replaced gross national product (GNP) as the primary measure of U.S. production in 1991. GNP is the market value of goods and services produced by labor and property supplied by U.S. residents, regardless of where they are located. Net national product (NNP) is the market value of goods and services produced by labor and property supplied by U.S. residents, less the value of the fixed capital used up in production; equal to GNP less consumption of fixed capital. The National Income and Product Accounts (NIPAs) are a set of economic accounts that provide detailed measures of the value and composition of national output and the incomes generated in the production of that output. Essentially, the NIPAs provide a detailed snapshot of the myriad transactions that make up the economy-buying and selling goods and services, hiring of labor, investing, renting property, paying taxes, and the like. The seven summary accounts of the NIPAs group transactors and transactions in the economy into three distinct sectors-persons, businesses, and government; a fourth sector for the rest of the world is added to cover transactions between the nation and foreigners. The seven summary accounts of the NIPAs show the contribution of each sector to the output of the economy, their income and outlays, and their saving and investment. In the NIPAs, national estimates cover the 50 states and Washington, DC. The Domestic Product and Income account presents statistics on real Gross Domestic Product (GDP), the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production, adjusted for price changes.

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9781071842270 Sage Data Foundations

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Statistical data with bibliographic citation and abstract.

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