Net National Income (NNI) is an economics term used in National income accounting. It can be defined as the Net National Product (NNP) minus indirect taxes. Economics (from the Greek οίκος [oikos], house, and νομος [nomos], rule, hence household management) is a social science that studies the production, distribution, trade and consumption of goods and services. ... Measures of national income and output are used in economics to estimate the value of goods and services produced in an economy. ... Net National Product (NNP) is the total market value of all final goods and services produced by citizens of an economy during a given period of time (Gross National Product or GNP) minus depreciation. ... An indirect tax (such as sales tax, value added tax (VAT), or goods and services tax (GST)) is collected from the person who bears the tax by intermediaries and the proceeds passed on to government. ...
It can be expressed as:
NNI = C + I + G + (NX) + net foreign factor income - indirect taxes - depreciation Declining-balance depreciation of a $50,000 asset with $6,500 salvage value over 20 years. ...
This formula uses the expediture method of national income accounting. Consumption is the using up of a resource. ... Investment is a term with several closely related meanings in finance and economics. ... Government spending consists of government purchases, including transfer payments, which can be financed by seigniorage (the creation of money for government funding), taxes, or government borrowing. ... Measures of national income and output are used in economics to estimate the value of goods and services produced in an economy. ...
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