(1) Gross Domestic Product is a measure of all currently produced final goods and services evaluated at

market prices.
GDP = Consumption (C) + Gross Investment (I) + Government Spending (G) + Net Exports (NX)
Gayri Safi Yurtii Hasla
(2) Gross National Product (GNP) measures the total income earned by residents of a nation:
GNP = GDP + Net Factor Income From Abroad
Gayri Safi Milli Hasla = Gayri Safi Yurtii Hasla + Net Faktr Geliri (ya da Net D Alem Geliri)
A note: Sources of factor income are wages, profit and rent.
(3) Net National Product (NNP) is GNP net of the capital stock used up:
NNP = GNP Depreciation
Safi Milli Hasla = Gayri Safi Milli Hasla Amortisman
A note for the meaning of Depreciation: Depreciation is the amount of the economys stock of fixed capital (plants,
equipment, and residential structures) that wears out during the year. Sometimes, depreciation is called the capital
consumption allowances. Because the depreciation of capital is a cost of producing the output of the economy, subtracting
depreciation shows the net result of economic activity.

(4) National Income (NI) is NNP net of amounts that are not passed on as factor incomes (after corrected for
the statistical discrepancy). However, it is also defined as the sum of the earnings of all factors of production
(land, labor and capital) that come from current production:
NI = NNP Indirect Business Taxes Business Transfer Payments + Subsidies Statistical Discrepancy
Safi Milli Gelir = SMH Dolayl Vergiler + Sbvansiyonlar
Notes:
(i) National income is exactly equivalent to what the net production of goods and services would sell for on the market if
there were nothing else added to the prices of goods and services; it is therefore a measure of the net value of products
measured at factor cost. However, the prices at which goods are exchanged in markets do include indirect taxes such as
sales tax, value added tax and excise tax. Therefore, Indirect Business Taxes taxes are substracted from the net national
product at market prices to obtain the national income at factor cost.
(ii) Business transfer payments are mainly business gifts to nonprofit foundations and writeoffs of bad debts.
(iii) Statistical discrepancy is the difference between GNP measured on the income and product sides due to the fact that
the statistical bases for the two measurements are independent of each other.

NI = Compensation of employees + Proprietors income + Rental income of persons + Corporate profits

+ Net interest income
MG = cret ve maa gelirleri + Teebbs ve serbest meslek gelirleri + Kira gelirleri + irket krlar
+ Net faiz gelirleri
A note for the definitions of the types of factor income:

Compensation of employees: The wages and salary payments as well as supplementary benefits earned by workers.

Proprietors income: The income of non-corporate businesses, such as small farms, mom-and-pop stores, and law
partnerships.

Rental income of persons: The income that landlords receive, including the imputed rent that homeowners pay to
themselves, less expenses, such as depreciation.

Corporate profits: The income of corporations after payments to their workers and creditors.

Net interest: The interest domestic businesses pay minus the interest they receive, plus interest earned from
foreigners.

(5) Personal Income (PI) is a measure of income received by persons from all sources. Elements of national
income that are not received by persons are subtracted while the income of persons obtained from sources other
than current production of goods and services are added to the National Income:
PI = NI (Corporate Profits - Dividends) + (Government and Business Transfers to Individuals - Social
Insurance Contributions paid to the government) + (Personal Interest Income - Net Interest Income)
Kiisel Gelir= Milli Gelir (irket krlar Temettler) + (Transfer demeleri Emekli kesenekleri ve sosyal
sigorta aidatlar) + (Kiisel faiz gelirleri Net faiz gelirleri)
Note that since the amount of Corporate Profits are equivalent to the sum of corporate taxes, dividend payments and
retained earnings, Dividends are added to NI in calculating the PI.
Note that Net Interest Income is deducted from NI because it represents interest income of corporations, not that of
persons.

(6) Disposable Personal Income (DPI) is the personal income net of personal tax payments and certain nontax
payments to the government:
DPI = PI - Personal Tax and Non-tax Payments
Harcanabilir Kiisel Gelir = Kiisel gelir Kiilerin dedii vergiler ve vergi benzeri demeler