Cambridge Encyclopedia » Cambridge Encyclopedia Vol. 53

national accounts - Development, Main components

division prices produced taxes

A set of accounts showing how much a nation has produced and consumed during some period, normally a year. This will cover the composition of goods and services produced, by sector; the division of expenditures between consumption, investment, government, imports, and exports; and the division of incomes between wages, profits, rents, interest, taxes, and transfer payments. It will also include a balance sheet of the nation's internal and external assets at some date. All these are usually given both at current prices, before and after taxes, and at some base year prices to facilitate comparisons over time.

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