SNA
System of National Accounts
National Income and Product Accounts
Description
Glossary of terms specific to the NIPAs per: https://www.bea.gov/national/pdf/glossary.pdf
NIPAs
National income and product accounts
GDP
Gross domestic product
Wholesale margin
The value added by wholesalers in the chain of distribution ofa commodity from the producer to the final purchaser. Sometimes referred to as “wholesale markup.”
Wages and salaries
The total remuneration, in cash and in kind, of employees, including the compensation of corporate officers; commissions, tips, and bonuses; voluntary employee contributions to certain deferred compensation 401(k) plans; employee gains from nonqualified stock options; receipts- in-kind; and miscellaneous compensation of employees, such as judicial fees to jurors and to witnesses.
Value-added approach
The measurement of GDP as the sum of the value added by each industry at each stage of production.
U.S. Travel and Tourism Satellite Accounts (TTSAs)
Annual accounts that provide a detailed picture of travel and tourism activity and its role in the U.S. economy. The TTSAs present estimates of expenditures by tourists or other visitors on 24 types of goods and services. The accounts also present estimates of the income generated by travel and tourism and estimates of the output and the employment generated by industries associated with travel and tourism.
Transfer
A transaction in which one party provides a good, service, or asset to another party without receiving anything directly in return.
Territorial adjustment
An adjustment that is made to the international transactions accounts (ITAs) to make the geographical coverage consistent with that of the NIPAs. The adjustments are made to transactions between the United States and its territories, Puerto Rico, and the Northern Mariana Islands, which are treated as part of the United States in the ITAs but are included in the rest of the world in the NIPAs.
“Third” quarterly estimates
This vintage of the current quarterly NIPA estimates is released near the end of the third month that follows the end of the reference quarter.
These estimates incorporate any revisions to the monthly source data since the “second” quarterly estimate and newly available quarterly source data. With the exception of wages and salaries and income aggregates related to it, these estimates will not be revised again until the next annual or comprehensive update of the NIPAs.