Gross domestic income
Encyclopedia
The Gross Domestic Income (GDI) is the total income received by all sectors of an economy within a nation. It includes the sum of all wages, profits, and taxes, minus subsidies. Since all income is derived from production (including the production of services), the gross domestic income of a country should exactly equal its gross domestic product
(GDP). The GDP is a very commonly cited statistic measuring the economic activity of countries, and the GDI is quite uncommon.
In the United States, the Bureau of Economic Analysis
produces figures for both the GDP and GDI. Although these should be equal, since they are calculated in different ways, in practice, the listed figures are different. This difference is known as the statistical discrepancy.
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
(GDP). The GDP is a very commonly cited statistic measuring the economic activity of countries, and the GDI is quite uncommon.
In the United States, the Bureau of Economic Analysis
Bureau of Economic Analysis
The Bureau of Economic Analysis is an agency in the United States Department of Commerce that provides important economic statistics including the gross domestic product of the United States. Its stated mission is to "promote a better understanding of the U.S...
produces figures for both the GDP and GDI. Although these should be equal, since they are calculated in different ways, in practice, the listed figures are different. This difference is known as the statistical discrepancy.