National Income and Product Accounts

High Quality Content by WIKIPEDIA articles! The National Income and Product Accounts (NIPA) are part of the national accounts of the United States. They are produced by the Bureau of Economic Analysis of the Department of Commerce. They are one of the main sources of data on general economic activity in the United States. For, example, they are the source of the Gross Domstic Product (GDP) figure. They use double-entry accounting to report the monetary value and sources of output produced in the country and the distribution of incomes that production generates. Data are available at the national and industry levels. Seven summary accounts are published, as well as a much larger number of more specific accounts. The first summary account shows gross domestic product and its major components. The table summarizes national income on the left (debit, revenue) side and national product on the right (credit, expense) side of a two-column accounting report.... Mehr