Income Measure
Jump to navigation
Jump to search
An Income Measure is an economic measure of the economic value (income value) received by an economic agent derived from economic activity.
- Context:
- It can range from being a Macroeconomic Income (such as public income) to being a Microeconomic Income (such as personal income or household income).
- It can range from being a Gross Income Measure to being a Net Income Measure.
- It can range from being a Nominal Income Measure to being a Real Income Measure.
- …
- Example(s):
- Counter-Example(s):
- See: Factor Income, Consumer Theory, Law of Demand, Permanent Income Hypothesis, Capital to Income Ratio, Income Average Measure, Income Variance Measure.
References
2015
- http://wikipedia.org/wiki/Income
- Income is the consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of time."
In the field of public economics, the term may refer to the accumulation of both monetary and non-monetary consumption ability, with the former (monetary) being used as a proxy for total income.
- Income is the consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of time."
- Paul Krugman. (2015-02-09). http://www.nytimes.com/2015/02/09/opinion/paul-krugman-nobody-understands-debt.html?rref=collection%2Fcolumn%2Fpaul-krugman