Table 1: Relationship between Gross Domestic Product and
Disposable Income
|
|
2002 |
2003 |
|
Gross domestic product
(GDP |
10,487.0 |
11,004.0 |
|
Plus: Income receipts from the rest of the world |
301.8 |
329.0 |
|
Less: Income payments to the rest of the world |
274.7 |
273.9 |
|
Equals: Gross national product
(GNP) |
10,514.1 |
11,059.2 |
|
Less: Consumption of fixed capital |
1,303.9 |
1,353.9 |
|
Equals: Net national product
(NNP) |
9,210.1 |
9,705.2 |
|
Less: Statistical discrepancy |
-15.3 |
25.6 |
|
Equals: National income
(NI) |
9,225.4 |
9,679.6 |
|
Less: Corporate profits with inventory valuation and capital consumption adjustments |
874.6 |
1,021.1 |
|
Less: Taxes on production and imports less subsidies |
724.4 |
751.3 |
|
Less: Contributions for government social insurance |
748.3 |
773.2 |
|
Less: Net interest and miscellaneous payments on assets |
532.9 |
543.0 |
|
Less: Business current transfer payments (net) |
80.9 |
77.7 |
|
Less: Current surplus of government enterprises |
2.8 |
9.5 |
|
Less: Wage accruals less disbursements |
0.0 |
0.0 |
|
Plus: Personal income receipts on assets |
1,334.6 |
1,322.7 |
|
Plus: Personal current transfer receipts |
1,282.7 |
1,335.4 |
|
Equals: Personal income
(PI) |
8,878.9 |
9,161.8 |
|
Less:
Personal current taxes |
1,051.2 |
1,001.9 |
|
Equals: Disposable personal income (DI) |
7,827.7 |
8,159.9 |
Source:
Bureau of Economic Analysis (www.bea.gov)