Economics — page 2 of 4

Economics terms

101. Fixed assets Produced assets that are used repeatedly, or continuously, in processes of production for an extended period of time.
102. Fixed investment Consists of purchases of residential and nonresidential structures and of equipment and software by private businesses, by nonprofit institutions, and by…
103. Foreign affiliate A foreign business enterprise in which there is U.S. direct investment-that is, in which a U.S.
104. Foreign affiliates See Foreign affiliate
105. Foreign direct investment in the United States See Foreign direct investment in the United States (FDIUS)
106. Foreign direct investment in the United States (FDIUS) Ownership or control, directly or indirectly, by one foreign person, or entity, of 10 percent or more of the voting securities of an incorporated U.S.
107. Foreign parent The first person, or entity, outside the United States in a U.S. affiliate's ownership chain that has a direct investment interest in the affiliate.
108. Foreign parent group Consists of the foreign parent and the ultimate beneficial owner (UBO) of a U.S.
109. Foreign parents See Foreign parent
110. Foreign resident See Foreign residents
111. Foreign residents Individuals, governments, business enterprises, trusts, associations, and nonprofit organizations that fulfill two criteria: (1) They have their center of…
112. GDI See Gross domestic income (GDI)
113. GDP See Gross domestic product (GDP)
114. GDP by state See Gross domestic product (GDP) by state
115. GDP price index See Gross domestic product (GDP) price index
116. GDP-by-industry accounts See Gross domestic product (GDP)-by-industry accounts
117. General government sector Includes production by all Federal, state, and local government agencies except for government enterprises.
118. GNP See Gross national product (GNP)
119. Government consumption expenditures Expenditures consisting of compensation of general government employees, consumption of fixed capital (CFC), and intermediate purchases of goods and…
120. Government consumption expenditures and gross investment The value of services produced by government, measured as the purchases made by government on inputs of labor, intermediate goods and services, and…
121. Government current expenditures Expenditures consisting of government consumption expenditures, current transfer payments, interest payments, and subsidies.
122. Government current receipts Receipts consisting of current tax receipts, contributions for government social insurance, income receipts on assets, current transfer receipts from…
123. Government enterprise See Government enterprises
124. Government enterprises Government agencies that cover a substantial portion of their operating costs by selling goods and services to the public and that maintain their own…
125. Government gross investment Expenditures consisting of government purchases of structures, equipment, and own-account production of structures and software.
126. Government social benefits Includes benefits from government social insurance funds and from certain other programs.
127. Gross domestic income See Gross domestic income (GDI)
128. Gross domestic income (GDI) The costs incurred and the incomes earned in the production of gross domestic product (GDP).
129. Gross domestic investment The sum of gross private domestic fixed investment, the change in private inventories, and government gross investment.
130. Gross domestic product See Gross domestic product (GDP)
131. Gross domestic product (GDP) The market value of goods and services produced by labor and property in the United States, regardless of nationality; GDP replaced gross national product…
132. Gross domestic product (GDP) by state A measurement of a state's output; it is the sum of value added from all industries in the state.
133. Gross domestic product (GDP) price index Measures the prices paid for goods and services produced by the U.S. economy and is derived from the prices of personal consumption expenditures (PCE)…
134. Gross domestic product (GDP)-by-industry accounts A set of accounts that present the contribution of each private industry and government to the Nation's gross domestic product (GDP).
135. Gross domestic product price index See Gross domestic product (GDP) price index
136. Gross domestic product-by-industry accounts See Gross domestic product (GDP)-by-industry accounts
137. Gross domestic purchases The market value of goods and services purchased by U.S. residents, regardless of where those goods and services were produced.
138. Gross domestic purchases price index Measures the prices paid for goods and services purchased by U.S. residents. This index is derived from the prices of personal consumption expenditures…
139. Gross investment The sum of gross private domestic investment, government gross investment, and balance on current account, national income and product acounts.
140. Gross national product See Gross national product (GNP)
141. Gross national product (GNP) The market value of goods and services produced by labor and property supplied by U.S. residents, regardless of where they are located.
142. Gross operating surplus Value derived as a residual for most industries after subtracting total intermediate inputs, compensation of employees, and taxes on production and…
143. Gross output Consists of sales, or receipts, and other operating income, plus commodity taxes and changes in inventories.
144. Gross private domestic investment Private fixed investment and change in private inventories. It is measured without a deduction for consumption of fixed capital (CFC), includes…
145. Gross state product See Gross domestic product (GDP) by state
146. Households and institutions sector Includes all production by households, which consists of families and unrelated individuals, and by nonprofit institutions that primarily serve households…
147. I-O accounts See Input-output (I-O) accounts
148. I-O output multipliers See Input-output (I-O) output multipliers
149. IIP of the United States See International investment position (IIP) of the United States
150. Implicit price deflator See Implicit price deflator (IPD)
151. Implicit price deflator (IPD) The ratio of the current-dollar value of a series, such as gross domestic product (GDP), to its corresponding chained-dollar value, multiplied by 100.
152. Imports of goods and services Goods and services purchased by U.S. residents from foreign residents.
153. Imputation See Imputations
154. Imputations Estimates of the value of certain income and product flows that do not take measurable monetary form.
155. Income payments on assets Payments that result from the ownership of assets. It includes interest payments, dividend payments, reinvested earnings on foreign direct investment in…
156. Income payments to the rest of the world Consists of compensation paid to foreign residents, income payments on assets to the rest of the world (which includes interest and dividends paid to the…
157. Income receipts from the rest of the world Consists of compensation paid to U.S. residents by foreigners, income receipts on assets from the rest of the world (which includes interest and dividends…
158. Income receipts on assets For private businesses it consists of interest and dividend receipts from the rest of the world and reinvested earnings on U.S. direct investment abroad.
159. Input-output (I-O) accounts Show the relationships between all the industries in the economy and all the commodities that these industries produce and use.
160. Input-output (I-O) output multipliers Estimate of output required to satisfy a given level of final use. There are three I-O output multipliers, all of which correspond to the total…
161. Input-output accounts See Input-output (I-O) accounts
162. Input-output output multipliers See Input-output (I-O) output multipliers
163. Intercompany debt flows (direct investment) Loans, trade credits, and other transactions in intercompany account payables or receivables between U.S.
164. Interest and miscellaneous payments Consist of interest paid by domestic private enterprises and rents and royalties paid by private enterprises to government.
165. Interest and miscellaneous receipts Includes rents and royalties received by government from private enterprises, including both monetary and imputed interest receipts.
166. Interest payments Government interest paid to persons.
167. Intermediate inputs Goods and services that are used in the production process of other goods and services and are not sold in final-demand markets.
168. Intermediate purchases Purchases of intermediate inputs made by industries or government. Related terms: Final use(s), Input-output (I-O) accounts.
169. International Investment position See International investment position (IIP) of the United States
170. International investment position (IIP) of the United States Value of accumulated stocks of U.S.-owned assets abroad and the accumulated values of foreign-owned assets in the United States at a point in time; the…
171. International Investment position of the United States See International investment position (IIP) of the United States
172. Intra-firm trade in services Receipts and payments between U.S. affiliates and their foreign parents, and between U.S.
173. Inventory valuation adjustment See Inventory valuation adjustment (IVA)
174. Inventory valuation adjustment (IVA) An adjustment made in the national income and product accounts (NIPAs) to corporate profits and to proprietors' income in order to remove inventory…
175. Inward investment Foreign residents' investment in U.S. assets.
176. IPD See Implicit price deflator (IPD)
177. IVA See Inventory valuation adjustment (IVA)
178. Laspeyres See Laspeyres price index
179. Laspeyres price index A fixed-weighted price index that is computed as the sum of base-period quantities valued at current-period prices divided by the sum of base-period…
180. Leontief inversion approach A mathematical technique which is used at BEA to estimate the input-output (I-O) total requirement coefficients and RIMS II multipliers.
181. Local area personal income Income that is received by, or on behalf of, all persons who live in the local area.
182. Majority-owned foreign affiliate See Majority-owned foreign affiliate (MOFA)
183. Majority-owned foreign affiliate (MOFA) A foreign affiliate in which the combined ownership of all U.S. parents exceeds 50 percent. Related terms: Foreign parent, U.S. affiliate.
184. Majority-owned foreign affiliates See Majority-owned foreign affiliate (MOFA)
185. Majority-owned U.S. affiliate A U.S. affiliate in which the combined ownership of all foreign parents exceeds 50 percent. Related terms: Foreign affiliate, U.S. parent.
186. Majority-owned U.S. affiliates See Majority-owned U.S. affiliate
187. Make table A table in the input-output (I-O) accounts. The make table shows the production of commodities by industries.
188. Make tables See Make table
189. Margin See Margin, or margin costs
190. Margin costs See Margin, or margin costs
191. Margin, or margin costs The value of the trade services provided in delivering commodities from producers' establishments to purchasers, where the purchaser pays for the services.
192. MOFA See Majority-owned foreign affiliate (MOFA)
193. Monthly Treasury Statement Data series, released by the U.S. Treasury, which summarizes the financial activities of the federal government and off-budget Federal entities in…
194. NAICS See North American Industry Classification System (NAICS)
195. National income See National income (NI)
196. National income (NI) The sum of all incomes, net of consumption of fixed capital (CFC), earned in production. Includes both factor incomes and nonfactor charges.
197. National income and product accounts See National income and product accounts (NIPAs)
198. National income and product accounts (NIPAs) BEA's economic accounts that display the value and composition of national output and the distribution of incomes generated in its production.
199. NDP See Net domestic product (NDP)
200. Net domestic product See Net domestic product (NDP)