Expenditure and Income Approach

Expenditure Approach:  C + Ig + G + Xn = GDP 

• Add up the market value of all the domestic expenditures made on final goods and services in a single year.

Income Approach: W + R + I + P + Statistical Adjustments

• Add up all the income earn by households and firms in  a single year.
• W: Wages
• R: Rents
• I: Interest
• P: Profits (Proprietor's income)

Budget: Government Purchases of goods and services + Government Transfer Payments - Government tax and Fee collection.

• If the number is positive its Budget Deficit.
• If the number its negative its a Budget Surplus.

Trade: Exports - Imports

GNP: GDP + Net Foreign Factor Payment 

NNP (Net National Product): GNP - Depreciation

NDP (Net Domestic Product):GDP - Depreciation

National Income:

• GDP - Indirect Business Taxes - Depreciation - Net Foreign Factor Payment
• Compensation Of Employees + Proprietors Income + Rental Income + Interest Income + Corpus Profits

Disposable Personal Income: National Income - Personal Household Taxes + Government transfer payments