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NET DOMESTIC PRODUCT AND NATIONAL INCOME: Net domestic product (NDP) is the total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production of final goods and services during a given period of time, usually one year. The five main differences between net domestic product and national income are (1) indirect business taxes, (2) business transfer payments, (3) net foreign factor income, (4) government subsidies, and (5) statistical discrepancy.
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INTERCEPT, CONSUMPTION LINE The intercept of the consumption line indicates autonomous consumption, consumption that does not depend on the level of income or production. This can be thought of as the baseline level of consumption that would be undertaken if income falls to zero. Autonomous consumption is affected by the consumption expenditures determinants, which cause a change in the intercept and a shift of the consumption line. The value of the intercept of the saving line is the negative of the value of the intercept of the saving line.
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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for letters from the Internal Revenue Service.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
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NDP
Net Domestic Product
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