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Glossary "N"

NAICS. See North American Industry Classification System (NAICS)

National income. See National income (NI)

National income (NI). The sum of all incomes, net of consumption of fixed capital (CFC), earned in production. Includes both factor incomes and nonfactor charges. It formerly excluded nonfactor charges. Related terms: .

National income and product accounts. See National income and product accounts (NIPAs)

National income and product accounts (NIPAs). BEA's economic accounts that display the value and composition of national output and the distribution of incomes generated in its production. Related terms: .

NDP. See Net domestic product (NDP)

Net domestic product. See Net domestic product (NDP)

Net domestic product (NDP). The market value of the goods and services produced by labor and property in the United States less the value of the fixed capital used up in production; equal to gross domestic product (GDP) less consumption of fixed capital (CFC). NDP may be viewed as an estimate of sustainable product, which is a rough measure of the level of consumption that can be maintained while leaving capital assets intact. Related terms: .

Net exports of goods and services. Exports of goods and services minus imports of goods and services.

Net government saving. The difference between government current receipts and government current expenditures, formerly called current surplus or deficit (-), national income and product accounts.

Net gross receipts. See Net gross receipts (NGR)

Net gross receipts (NGR). A statistic tabulated from the tax returns of sole proprietors and partnerships; used in the estimation of nonfarm proprietors' income by state and county. Related terms: .

Net lending or net borrowing, national income and product accounts. An indirect measure of the net acquisition of foreign assets by U.S. residents less the net acquisition of U.S. assets by foreign residents. It is equal to the balance on current account, national income and product accounts less capital transfers to the rest of the world (net).

Net national product. See Net national product (NNP)

Net national product (NNP). The market value of goods and services produced by labor and property supplied by U.S. residents, less the value of the fixed capital used up in production; equal to gross national product (GNP) less consumption of fixed capital (CFC). Related terms: .

Net operating surplus. A profits-like measure that shows business income after subtracting the costs of compensation of employees (received), taxes on production and imports less subsidies, and consumption of fixed capital (CFC) from value added, but before subtracting financing costs and business transfer payments. Consists of the net operating surplus of private enterprises and the current surplus of government enterprises.

NGR. See Net gross receipts (NGR)

NI. See National income (NI)

NIPAs. See National income and product accounts (NIPAs)

NNP. See Net national product (NNP)

Nondurable goods. Tangible products that can be stored or inventoried and that have an average life of less than three years. Related terms: Durable goods, Services, Structures.

Nonfactor charges. Income from current production not accruing to labor or capital. Includes business current transfer payments (net), taxes on production and imports, and the current surplus of government enterprises less subsidies. Related terms: Factor income, National income (NI).

Nonresidential fixed investment. Consists of purchases of both nonresidential structures and equipment and software. Related terms: Equipment and software, Fixed investment, Nonresidential structures.

Nonresidential structures. Investment in nonresidential structures consists of new construction (including own-account production), improvements to existing structures, expenditures on new mobile structures, brokers' commissions on sales of structures, and net purchases of used structures by private businesses and by nonprofit institutions from government agencies. New construction includes hotels and motels and mining exploration, shafts, and wells. Nonresidential structures also includes equipment considered to be an integral part of a structure, such as plumbing, heating, and electrical systems. Related terms: Fixed investment, Nonresidential fixed investment.

North American Industry Classification System. See North American Industry Classification System (NAICS)

North American Industry Classification System (NAICS). A classification system developed jointly by the U.S., Canada, and Mexico to provide improved comparability in industrial statistics across North America. NAICS replaced the U.S. Standard Industrial Classification (SIC) system. Related terms: .