Economics

Economics terms

1. Additive See Additive, additivity
2. Additive, additivity A characteristic of a measurement series whereby the summed components equal the aggregate. Related terms: Chained-dollar estimate.
3. Additivity See Additive, additivity
4. Advance estimate The first estimate of gross domestic product (GDP) and its components for a quarter.
5. Advance estimates See Advance estimate
6. Annual I-O accounts See Annual input-output (I-O) accounts
7. Annual input-output (I-O) accounts Set of I-O tables-make table, use table, direct requirements table, and total requirements tables-that are an update of the most recent benchmark I-O…
8. Annual input-output accounts See Annual input-output (I-O) accounts
9. Balance of payments Record of transactions between U.S. residents and foreign residents during a given time period.
10. Balance on current account Record of net receipts or payments on goods, services, income, and unilateral current transfers. Current transfers include U.S.
11. Balance on current account, national income and product accounts Current receipts from the rest of the world less current payments to the rest of the world, formerly called "net foreign investment.
12. Balance on goods Record of the difference between exports of goods and imports of goods. Related terms: Balance on current account, Balance on goods and services.
13. Balance on goods and services Record of the difference between exports of goods and services and imports of goods and services.
14. Base period The period from which the weights for a measurement series are derived. The national income and product accounts (NIPAs) currently use the year 2000 as…
15. Benchmark I-O accounts See Benchmark input-output (I-O) accounts
16. Benchmark input-output (I-O) accounts Statistical description-presented in a make table, use table, direct requirements table, and total requirements tables-of the production of goods and…
17. Benchmark input-output accounts See Benchmark input-output (I-O) accounts
18. BPT See Business, professional, and technical services transactions (BPT)
19. Business current transfer payments (net) Net payments by businesses to persons, government, and the rest of the world for which no current services are performed.
20. Business current transfer payments to government (net) Consists of payments to the Federal government in the form of premiums for deposit insurance, fees for regulatory and inspection activities, and fines…
21. Business current transfer payments to persons (net) Consists of net insurance settlements and income payments by businesses to persons for which no current services are performed.
22. Business current transfer payments to the rest of the world (net) Net insurance settlements paid to the rest of the world as policyholders. Excludes taxes paid by domestic corporations to foreign governments.
23. Business sector All corporate and noncorporate private entities organized for profit and certain other entities that are treated as businesses in the national income and…
24. Business, professional, and technical services transactions See Business, professional, and technical services transactions (BPT)
25. Business, professional, and technical services transactions (BPT) Transactions covering a wide range of private services sold to or purchased from foreigners, such as advertising, telecommunications, computer and data…
26. Capital account (international) Record of capital transfers between U.S. residents and foreign residents, such as debt forgiveness and migrants' transfers, and acquisitions and disposals…
27. Capital accounts (international) See Capital account (international)
28. Capital consumption adjustment See Capital consumption adjustment (CCAdj), (private)
29. Capital consumption adjustment (CCAdj), (private) The difference between private capital consumption allowances (CCA) and private consumption of fixed capital (CFC).
30. Capital consumption allowance See Capital consumption allowance (CCA), (private)
31. Capital consumption allowance (CCA), (private) Consists of tax-return-based depreciation charges for corporations and nonfarm proprietorships and of historical-cost depreciation (calculated by BEA) for…
32. Capital consumption allowances See Capital consumption allowance (CCA), (private)
33. Capital expenditures Expenditures made to acquire, add to, or improve property, plant, and equipment (PP&E).
34. Capital flows table Table that expands the fixed investment component of the input-output (I-O) use table to show the types of new equipment, new structures, and software…
35. Capital transfers to the rest of the world (net) Cash or in-kind transfers to foreigners that are linked to the acquisition or disposition of a fixed asset.
36. CCA See Capital consumption allowance (CCA), (private)
37. CCAdj See Capital consumption adjustment (CCAdj), (private)
38. CFC See Consumption of fixed capital (CFC)
39. Chain dollar See Chained-dollar estimate
40. Chained-dollar estimate A measure used to approximate the chained-type index level and is calculated by taking the current-dollar level of a series in the base period and…
41. Chained-type index Index that is based on the linking (chaining) of indexes to create a time series.
42. Change in private inventories The change in the physical volume of inventories owned by private business, valued at the average prices of the period.
43. Commodity flow method Method used to estimate purchases of a commodity by intermediate or final users.
44. Compensation of employees See Compensation of employees (paid)
45. Compensation of employees (paid) Income accruing to employees as remuneration for their work for domestic production.
46. Compensation of employees (received) Wage and salary disbursements and supplements to wages and salaries received by U.S.
47. Consumption of fixed capital See Consumption of fixed capital (CFC)
48. Consumption of fixed capital (CFC) The charge for the using up of private and government fixed capital located in the United States.
49. Contribution for government social insurance Employer contributions for government social insurance as well as payments by employees, the self-employed, and other individuals who participate in…
50. Contributions for government social insurance See Contribution for government social insurance
51. Corporate profits See Corporate profits with IVA and CCAdj
52. Corporate profits with IVA and CCAdj This measure-profits from current production-is the income that arises from current production, measured before income taxes, of organizations treated as…
53. Cross-border trade in services Transactions in services between the residents of one country and the residents of another country. From the U.S.
54. Current account (international) Record of transactions in goods, services, income, and unilateral current transfers between residents and nonresidents.
55. Current dollar See Current-dollar estimate
56. Current payments to the rest of the world The sum of imports of goods and services, income payments to the rest of the world, and current taxes and transfer payments to the rest of the world.
57. Current receipts from the rest of the world The sum of exports of goods and services and income receipts from the rest of the world.
58. Current surplus of government enterprises The current operating revenue and subsidies received by government enterprises from other levels of government less the current expenses of government…
59. Current tax receipts Tax revenues received by government from all sources. It is the sum of personal current taxes, taxes on production and imports, taxes on corporate income…
60. Current taxes and transfer payments to the rest of the world Payments consisting of business current transfer payments to the rest of the world (net), plus nonresident taxes paid by domestic corporations to foreign…
61. Current transfer payments Payments consisting of government social benefits and other current transfer payments to the rest of the world.
62. Current transfer receipts Government net transfer receipts from businesses and from persons. These receipts largely consist of deposit insurance premiums, net insurance…
63. Current-dollar estimate The market value of an item. It reflects prices and quantities of the period being measured. Related terms: Chained-dollar estimate.
64. Direct investment Investment in which a resident of one country obtains a lasting interest in, and a degree of influence over, the management of a business enterprise in…
65. Direct investment capital flows Funds that parent companies provide to their affiliates net of funds that affiliates provide to their parents. For U.S.
66. Direct investment income Return that direct investors receive on their investment in affiliates abroad. It consists of the direct investors' share in the earnings of the…
67. Direct investment position The value of direct investors' equity in, and net outstanding loans to, their affiliates.
68. Direct investment position at current cost A measure of the value of direct investors' equity in, and net outstanding loans to, their affiliates in which the equity portion of the position is…
69. Direct investment position at historical cost A measure of the value of direct investors' equity in, and net outstanding loans to, their affiliates in which the direct investors' investment is valued…
70. Direct investment position at market value A measure of the value of direct investors' equity in, and net outstanding loans to, their affiliates, in which the equity portion of the position is…
71. Direct requirements table A table in the input-output (I-O) accounts that shows the input of commodities that an industry requires to produce a dollar of output.
72. Directly estimated method Procedure for estimating Federal government purchases based on data from the budget and from the Monthly Treasury Statement.
73. Directly priced method Procedure for estimating Federal government purchases by multiplying the delivered quantity by the price paid.
74. Disposable personal income Total after-tax income received by persons; it is the income available to persons for spending or saving.
75. Dividend See Dividends
76. Dividend receipts from the rest of the world Receipts received by U.S. residents of dividends from foreign corporations plus earnings distributed by unincorporated foreign affiliates to their U.S.
77. Dividends Payments in cash or other assets, excluding the corporation's own stock, made by corporations located in the United States and abroad to stockholders who…
78. Double deflation Technique for estimating real value added by industry in the gross domestic product (GDP)-by-industry accounts.
79. Durable goods Tangible products that can be stored or inventoried and that have an average life of at least three years.
80. Employer contributions for employee pension and insurance funds Contributions consisting of employer payments (including payments-in-kind) to private pension and profit-sharing plans, publicly administered government…
81. End Use A classification system for U.S. exported and imported merchandise based on principal use rather than the physical characteristics of the merchandise.
82. Enterprise A business, service, or membership organization consisting of one or more establishments under common, direct or indirect, ownership or control.
83. Enterprises See Enterprise
84. Equipment and software Investment in equipment and software consists of capital account purchases of new machinery, equipment, furniture, vehicles, and computer software…
85. Equity capital flows (direct investment) Equity capital increases and decreases. Equity capital increases consist of payments by parent companies to third parties abroad for the purchase of…
86. Establishment An economic unit-business or industrial-at a single geographic location, where business is conducted or where services or industrial operations are…
87. Establishments See Establishment
88. Exports of goods and services Goods and services sold by U.S. residents to foreign residents.
89. Factor income Labor and property earnings from current production. In national income, it is the incomes accruing to labor and property of U.S.
90. Factor incomes See Factor income
91. FDIUS See Foreign direct investment in the United States (FDIUS)
92. Final demand Demand of final uses.
93. Final estimate The third estimate of gross domestic product (GDP) and its components for a quarter.
94. Final estimates See Final estimate
95. Final use(s) Final-demand components for goods and services, which consist of personal consumption expenditures (PCE); gross private fixed investment; change in…
96. Financial account (international) Record of transactions between U.S. residents and foreign residents resulting in changes in the level of international claims or liabilities, such as in…
97. Financial accounts (international) See Financial account (international)
98. Financial asset See Financial assets
99. Financial assets Deposits, stocks, bonds, notes, currencies, and other instruments that possess value and give rise to claims, liabilities, or equity investment.
100. Fisher ideal price index The geometric mean of the Laspeyres and Paasche price indexes. The Fisher index is superior to either the Laspeyres or the Paasche index if the structure…