Measures of an Economys Income

Today, most economists, as well as people who write or speak about the economy, use Gross Domestic Product as the standard measure of the size of an economy. This was not always the case, however, and there are reasons why economists might specifically want to look at some variations on GDP. Five common variations are explained here: Gross National Product (GNP): Rather than counting all income earned within a countrys borders regardless of who produces it, as with GDP, gross national product counts all income earned by the permanent residents of a country. If all of the residents of a country worked within that country and no foreigners worked in the country, GNP and GDP would be the same. As workers start crossing country borders, on the other hand, GNP and GDP become noticeably different, but still very similar, measures of income.Net National Product (NNP): Technically speaking, the net national product is equal to gross national product minus depreciation. Depreciation is simply the loss in value of capital and assets due to use, so its helpful to think of NNP as the part of GNP that went to make new stuff as opposed to making stuff to replace items that were getting worn out. (Note that you could technically define a net version of any of the measures listed here by subtracting out depreciation.)National In come (NI): National income is equal to the net national product after indirect business taxes (sales taxes, excise taxes, etc.) are subtracted out and business subsidies are added in. In this way, national income represents the payments to owners of the factors of production. This includes the owners of labor (i.e. workers), as well as owners of capital, such as land, buildings, and money, who lend out this capital in return for interest payments.Personal Income (PI): Personal income represents income received specifically by individuals and by companies that are not classified as corporations. Therefore, personal income subtracts out items such as retained earnings of corporations and corporate income taxes. On the other hand, personal income includes transfer payments from the government such as welfare and Social Security.Disposable Personal Income: Disposable personal income is equal to personal income minus government obligations. These government obligations include not only t axes but also fines and other related payments. In general, all of these quantities tend to move roughly in tandem, so they all tend to give roughly the same picture of an economy. In order to avoid confusion, economists usually use the gross domestic product only to describe the size of an economy.

The Descriptive Writing Style of John Steinbeck - 1122 Words

The novel The Grapes of Wrath is in many ways a one-of-a-kind piece of literature. This work is set up unlike any other book, written in a series of chapters and inter-chapters, which do a remarkable job of informing the reader of the travels the characters in the book are going through. Not only does the story focus on the problems one family goes through, but explains the problem is happening to many more civilians than the story focuss on. Steinbeck does not leave out a single detail about the Joad family and their journey to California, and that in itself is what makes his writing so entertaining. Not only is this a very powerful topic to write about, but the remarkable writing style of author John Steinbeck makes this book a†¦show more content†¦This passage explains that even some of the owners did not want to do what they were forced to do. The plot of The Grapes of Wrath is a fairly simple one. The families are moving out of states such as Oklahoma and traveling west because they can no longer make a decent living growing crops. However, if one looks past this simple plot they will find out there is much more then meets the eye. The presence of greed is located throughout the novel; an example of this is located in chapter fifteen when it goes on to explain the different ways the waitress, Mae, acts depending on the financial status of the customer. If she is tending to a truck driver, who she knows has money, she will put on a show to lure money out of him, but if it is a traveler going down route 66 that act disappears. The message, which lies deep down in each chapter, is one that questions the greed in our ever-changing society. In our society everyone wants to fit in, and many times not everyone is treated with equal respect. In essence, these people are having their freedom ripped away right in front of their eyes. Steinbeck has strong feelings on this issue and this book illustrates them to the fullest extent. I would have most certainl y agreed with John Steinbeck being a candidate for the Nobel Prize for Literature in 1962. Anyone with theShow MoreRelated John Steinbeck Essay1174 Words   |  5 PagesJohn Steinbeck A novelist is someone who writes novels, or writes a fancy work of fiction which often has a complicated plot, many major and minor characters, a significant theme, and several varied settings. A novelist will use literary devices such as characterization, tone, symbolism, imagery, and figurative language. John Steinbeck, an American novelist, uses many literary devices such as metaphors, similes, imagery, and figurative language along with excellent descriptive words to developRead MoreOf Mice And Men By John Steinbeck Analysis1000 Words   |  4 PagesMice and Men† by John Steinbeck, portrayed the times of hardship and struggle in United States’ Great Depression. 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This new literature was descriptive and colorful while describing on occasion, terrible events from experiences born out of World War One. Many of these writers were considered part of the Lost Generation and their literary themes expressed the feelings of their time. A smaller subset of these writers took their literaryRead More Of Mice and Men by John Steinbeck Essay example9610 Words   |  39 PagesOf Mice and Men by John Steinbeck John Steinbeck was born on 27 Feb 1902 in Salinas, California, not far from the area where Of Mice and Men is set. He attended Stanford University, but never settled to one area of study and left without obtaining a degree. In his twenties, he pursued a varied working life, including that of an itinerant ranch worker, similar to the characters portrayed in the novel. His early writings had some success, and established him as an author interested inRead MoreStudy Guide Literary Terms7657 Words   |  31 Pagesreference in one literary work to a character or theme found in another literary work. T. S. Eliot, in The Love Song of J. Alfred Prufrock alludes (refers) to the biblical figure John the Baptist in the line Though I have seen my head (grown slightly bald) brought in upon a platter, . . . In the New Testament, John the Baptists head was presented to King Herod on a platter 5. ambiguity-A statement which can contain two or more meanings. For example, when the oracle at Delphi told Croesus that

Commedia dellarte Essay Example For Students

Commedia dellarte Essay Commedia dellarte is a truly popular form of theatre of the people, by the people, for the people. Discuss this statement with specific examples of Commedia dellarte scenarios, stock characters, performance features and circumstances. Commedia dellarte is definitely an artform centred on people and their world. Although its origins are hazy due to the illiteracy of its first performers and audience, it is believed to have stemmed from the carnivals in Italy during the sixteenth century. Here it rose from the people from folk theatre, which used masks and music, and from the charlatans using pretence as a means of earning money. The scenarios involved in Commedia arose from the thematic concerns the form had. It was mainly concerned with examining the human condition via satire. Therfore, the canovaccios were filled with driving themes such as food, drink, sex, love, money and vengence. The artists created the scenarios to fit into the peoples living conditions as a safety valve. The costumes varied from loose to tight fitting garments and contrasted with the color of the characters mask. Their costumes would often reflect the characters social status, emotional state and motives. Commedia actors would train only to perform one character, and usually from an early age. The actors would often be from father to son, a parent teaching their child of only his character, and the child would train to be the same character as his father. The performances were mostly improvised and comedy-based. Influenced by the audience, some characters, would always attempt to make the audience laugh, not overly dissimilar to clowns. Other characters would bring comedy to the performance simply in their seriousness, in such a contrast to the clown characters; the serious characters would make the audience laugh through their motives, whilst clown characters would make the audience laugh through their misfortune. These clown characters included lazzi, who had no other purpose than comic relief. The lazzi’s movements were extremely exaggerated and often had a catchphrase; some troops used over one hundred lazzi’s over the course of their work. There were many different types of lazzi including acrobatic, violent, language, food, prop, sex, class rebellion, stage, stupidity, life, transformation, trickery and plot development. Stock characters were well-developed, easily recognisable characters; they were present in almost every Commedia performance and remained the same consistently from troupe to troupe. The stock characters were masked, and had extravagant costumes reflecting the character. Zanni were the servants in Commedia, serving the masters who were stock characters, they also served mostly as comic relief and the audience would laugh and their misfortunes. The zanni were treated poorly by their masters, providing the audience with someone to feel sorry for, but still laugh at, and perhaps if the actor was good, the audience would feel guilty for laughing. Bibliography: Brief History on Commedia dellarte. (n.d.). Retrieved February 28, 2015, from http://shane-arts.com/commedia-history.htm Commedia Dellarte. (n.d.). Retrieved February 28, 2015, from http://www.slideshare.net/guestf6faaf9c/commedia-dellarte Commedia Stock Characters. (n.d.). Retrieved February 28, 2015, from http://shane-arts.com/commedia-stock-characters.htm Commedia Stock Characters Arlechinno. (n.d.). Retrieved February 28, 2015, from http://shane-arts.com/Commedia-Arlechinno.htm IntoTheMask Theatre. (n.d.). Retrieved February 28, 2015, from http://intothemask.com.au/commedia-dellarte Lazzi La Commedia dellArte. (n.d.). Retrieved February 28, 2015, from https://sites.google.com/site/italiancommedia/lazzi