National Income and Product Accounts

See “Quantity estimates.”

Inflation-adjusted measure of disposable personal income that is calculated by deflation using the personal consumption expenditure price index as the deflator.

A weighted average of the proportionate changes in the quantities of a set of goods or services between two periods of time. Quantity indexes for adjacent pairs of periods can be “chained” (multiplied) together to form chain-type quantity indexes (see “Chain-type indexes).

Method for preparing inflation-adjusted, or “quantity,” estimates for some detailed NIPA components, such as, for example, compensation of state and local government employees. In this method, the quantity estimate for a NIPA component is derived by multiplying the base-year value of the component by a quantity indicator series that is set equal to 1 in the reference year.

Inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. For individual goods and services, quantity estimates are derived using the deflation method, the quantity extrapolation method, or the direct valuation method. For aggregate series, quantity estimates are based on chain-type quantity indexes, which are also be presented as chained-dollar estimates (see “Chain-type indexes” and “Chained-dollar estimates”).Also referred to as “real” estimates.

The prices paid by intermediate and final purchasers for the goods and services that they buy. These prices are equal to producers’ prices plus domestic transportation costs and trade margins.

See “Government enterprises.”

The current-production income (including income in kind) of sole proprietorships and partnerships and of tax-exempt cooperatives. It excludes dividends and monetary interest received by nonfinancial proprietorships and partnerships (which is considered received by persons) and rental income of persons not primarily engaged in thereal estate business. In the NIPAs, estimates are prepared separately for farm and nonfarm proprietors.

See “Income receipts on assets” and “Income payments on assets.”

Term used by the Census Bureau to identify the types of products that are produced or sold. Beginning with the 2002 Economic Census, this term replaced “merchandise line” for retail sales, “commodity line” for wholesale sales, and “revenue line” for services.