total incomes system of accounts - st. louis fed · by robert eisner the total incomes system of...

By ROBERT EISNER

The Total Incomes System of Accounts

Editor's Note.—In this article, Dr. Robert Eisner, William R. Kenan Professor of Eco-

nomics at Northwestern University, describes the rationale and basicstructure of the system of accounts he has developed and shows his resultsfor selected years. The system of economic accounts he presents differs inseveral major ways, described in the article, from BEA 's national incomeand product accounts. Dr. Eisner's system is presented in the SURVEY OFCURRENT BUSINESS because Dr. Eisner and BEA agree that economic ac-counts, as tools of analysis, are best strengthened by discussion of alterna-tive and complementary systems in open forums of users and estimators.

This reason also motivated the presentation in the SURVEY of the systemof economic accounts designed by Richard Ruggles and Nancy D. Ruggles.That presentation, in the May and November 1982 issues, included com-ments by users and estimators. Several of those comments—for example,those on nonmarket activity and sectoring—have bearing on the accountsdesigned by Dr. Eisner as well, and the reader is referred to them (a topi-cal guide appears on page 54 of the May 1982 issue) as a supplement tothis article.

THIS article presents a set of ac-counts of total income and productand associated capital stocks for theUnited States, in current and con-stant dollars, for selected years from1946 to 1981.! As its name—total in-comes system of accounts (TISA)—suggests, these accounts are designedto include the income correspondingto all consumption and capital accu-mulation, whether or not these relateto production for the market and re-gardless of the sector in which goodsand services are produced or capitalaccumulated.

Pursuing a number of themes ad-vanced by Simon Kuznets some fourdecades ago, TISA picks among andcombines elements in the United Na-tions system of national accounts andin work of Ruggles and Ruggles,Juster, Nordhaus and Tobin, Ken-drick, and others to build upon a cen-

1. Previous presentations of these accounts or partsof them are found in Robert Eisner, "Total Incomes inthe United States, 1959 and 1969," Review of Incomeand Wealth, ser. 24 (March 1978): 41-70; idem, "Cap-ital Gains and Income: Real Changes in the Value ofCapital in the United States, 1946-77," in The Meas-urement of Capital, Studies in Income and Wealth,vol. 45, ed. Dan Usher (Chicago: University of ChicagoPress, 1980); idem, "Total Income, Total Investment,and Growth," American Economic Review 70 (May1980): 225-231; Eisner and David H. Nebhut, "An Ex-tended Measure of Government Product: PreliminaryResults for the United States, 1946-76," Review ofIncome and Wealth, ser. 27 (May 1981); 33-64; andEisner, Emily R. Simons, Paul J. Pieper, and StevenBender, "Total Incomes in the United States, 1946-1976: A Summary Report," Review of Income andWealth, ser. 28 (June 1982): 133-174.

tral core of BEA's national incomeand product accounts.2 However, itgoes beyond, or differs from, the BEAaccounts in the following major re-spects.

First, TISA embraces a broaderspectrum of production than do theBEA accounts, TISA counts nonmar-ket, as well as market, product in allsectors, and this product includes in-tangible, as well as tangible, capitalaccumulation. Among the major itemsof nonmarket product are the servicesof government and household capital,the services of unpaid householdlabor, and the opportunity costs ofstudents' time.

Second, TISA abandons the BEAdefinition of final product, (a) Servicessuch as those of national defense,roads, and police, which are finalproduct in the BEA accounts, areclassified as intermediate product in

2. See Nancy Ruggles and Richard Ruggles, TheDesign of Economic Accounts (New York: NationalBureau of Economic Research, 1970); idem, "A Propos-al for a System of Economic and Social Accounts," inThe Measurement of Economic and Social Perform-ance, and ed. Milton Moss (New York: NationalBureau of Economic Research, 1973); idem, "Integrat-ed Economic Accounts of the United States, 1947-80,"SURVEY OF CURRENT BUSINESS 62 (May 1982): 1-53; F.Thomas Juster, "A Framework for the Measurementof Economic and Social Performance," in The Meas-urement of Economic and Social Performance; andWilliam D. Nordhaus and James Tobin, "Is GrowthObsolete?" in The Measurement of Economic andSocial Performance; and John W. Kendrick, The For-mation and Stocks of Total Capital (New York: Na-tional Bureau of Economic Research, 1976).

NOTE.—The author offers the accountsthat follow in a spirit of experimenta-tion. Previously, they were presented forearlier years and without benefit of the1980 BEA benchmark revisions; herethey are updated and revised for scrutinyand use by a broader audience. Fullseries, in hard copy or machine-readableform, may be acquired from the authorat nominal cost. A forthcoming book-length report will include applications ofthe data to economic relations and a de-tailed statement of sources and methods.

Wilson Lim was of inestimable helpover a long period in putting togetherthe current set of accounts. Hilarie Liebassisted in recent revisions. John Keat-ing prepared 1981 time use estimates andStuart Weiner prepared the original esti-mates for 1975 and earlier years. Theauthor is indebted to a long line of re-search assistants and, most importantly,to his coauthors in earlier published re-ports—David Nebhut, Emily R. Simons,Paul J. Pieper, and Steven Bender.

Gerald F. Donahoe, John A. Gorman,John C. Musgrave, Gerald Silverstein,and many others in the National Incomeand Wealth Division of BEA very gener-ously supplied unpublished data andguidance in their use. The final versionof this article has benefited greatly fromsuggestions by several at BEA, especiallyCarol S. Carson, George Jaszi, and HelenStone Tice.

The work has enjoyed the financialsupport of a series of grants from the Na-tional Science Foundation, which is, ofcourse, in no way accountable for its con-tents.

24

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

January 1985

January 1985 SURVEY OF CURRENT BUSINESS 25

TISA. The value of business productas estimated by BEA is then reducedby the amount of intermediate prod-uct received from government, (b) Aportion of commercial media servicesof television, radio, newspapers, andmagazines—intermediate businesspurchases in the BEA accounts—iscounted in TISA as final product. Thevalue or cost of a movie on televisionpaid for by business advertising iscounted as much as a movie paid forat the theater box office, (c) Expensesrelated to work are subtracted fromincome and product, while the valuesof employee training and human cap-ital formation are added.

Third, TISA generally valuesoutput at factor cost and departs onmore occasions than do the BEA ac-counts from valuation at marketprices. In particular, TISA includessubsidies in the value of output andmakes imputations for the services ofvolunteer labor and for the differencebetween the opportunity costs of mili-tary conscripts and jurors and whatthey are paid.

Fourth, TISA provides, in additionto a national income and product ac-count, separate sector income andproduct accounts for business, non-profit institutions, government enter-prises, government, and households.This structure contrasts in severalways with that of the BEA accountsas represented by the summary five-account system.3 Very fundamentally,different kinds of accounts supple-ment each system's national incomeand product account. The TISA sectoraccounts are deconsolidations of thenational income and product ac-count—that is, they provide detail onincome and product by sector. (Theonly such sector detail provided byBEA is for corporate business.) TheBEA accounts provide sector incomeand outlay—that is, appropriation—accounts and a consolidated savingand investment account for the do-mestic sectors. Further, the TISAsector accounts are for five domesticsectors, whereas the BEA sector ac-counts are for persons (including bothhouseholds and nonprofit institu-

3. For a brief description of the five-account summa-ry of the BEA national income and product accounts,see Ruggles and Ruggles, "Integrated Economic Ac-counts," pp. 6-8, and Carol S. Carson and GeorgeJaszi, "The National Income and Product Accounts ofthe United States: An Overview," SURVEY 61 (Febru-ary 1981): 22-28.

tions), for government, and for therest of the world as represented byforeigners in their transactions withthe United States. Finally, within theTISA account structure, the locationof several items—for example, invest-ment in owner-occupied housing—dif-fers from that in the BEA accounts,and several new items—mainly relat-ed to services of tangible capital andto intangible capital—are placedwithin it.

Fifth, in contrast to the BEA ac-counts, which apply inventory valu-ation and capital consumption adjust-ments to exclude changes in the valueof existing assets, TISA includes grossand net revaluations of tangibleassets. Gross revaluations—that is,changes in nominal values (net, ofcourse, of net investment)—permitthe integration of flows of investmentand stocks of capital at current re-placement cost. Net revaluations—that is, changes in nominal valuesminus changes in value attributableto changes in the general level ofprices—on tangible capital are includ-ed as components of capital accumula-tion and of income and product. Thus,current-dollar net investment equalsthe current-dollar value of the realchange in net worth, whether due toacquisition of newly produced capitalor changes in the value of existingcapital.

TISA is not intended as a substitutefor the BEA national income andproduct accounts, but as a supplementto them. The BEA accounts have beenhailed appropriately as the best avail-able comprehensive measure of thecourse of the economy and of over-whelming value in economic analysisand policy formation. But they havealso been criticized as inadequatemeasures of total current consump-tion and investment and, hence, ofeconomic welfare. TISA may offersome useful additional insights.

For those interested in the contri-bution of investment to growth, atten-tion is directed to TISA series on totalcapital formation, public as well asprivate, human as well as nonhuman.For those looking for measures of cur-rent welfare, TISA series on consump-tion services, including those of dura-bles and other services provided with-out concurrent market transactions,may be relevant. Those concernedwith factor shares in income andoutput may make use of various im-

putations of labor and capital serv-ices. Net revaluations, or real capitalgains and losses, may serve particu-larly in measuring returns to capitaland in developing more robust meas-ures of relations involving consump-tion and saving.

While there may be some novelty—or substantial improvisation—in vari-ous TISA estimates, most of the seriesare in considerable part rearrange-ments or extensions of measures pro-vided by other investigators or al-ready in the BEA accounts or othergovernment statistics. Many, al-though not all, of the parts willappear familiar, but the whole willoffer a new, integrated set of ac-counts, which may open new paths ofanalysis as it is subjected to profes-sional scrutiny and use.

In the four sections that follow, thisarticle first indicates, in some detail,the structure of the TISA nationalincome and product account. Next, itdescribes the structure of the sectoraccounts and introduces the underly-ing methodology for major items ofspecial interest. The third section re-views briefly the constant-dollar andcapital stock series. Finally, thefourth section presents substantivehighlights. The accounts are present-ed following the text in tables 1-15.

I. National Income andProduct

The TISA national income andproduct account, table 1, shows grossnational product (GNP) as the sum ofcredits, and charges against GNP asthe sum of debits. As in the BEA ac-counts, GNP in TISA is a measure ofthe value of goods and services pro-duced by labor and property suppliedby residents of the United States.

DebitsThe TISA income and nonincome

charges on the debit side of the ac-count include, first, a vastly expandedmeasure of labor income. In terms of1981 figures, which are generally usedin this presentation, BEA's $1,769 bil-lion for monetary and imputed com-pensation of employees is supplement-ed by $1,502 billion of additional im-putations to bring total labor income,after deduction of $63 billion for ex-penses (for travel) related to work, to


January 1985

26 SURVEY OF CURRENT BUSINESS January 1985

$3,209 billion.4 The imputations in-clude $74 billion for employee train-ing, $25 billion for expense accountitems of consumption, and $139 bil-lion for labor income of the self-em-ployed. By far the largest items, how-ever, are opportunity costs of stu-dents, $284 billion, and unpaid house-hold work, $981 billion—alone overone-half as much again as compensa-tion of employees.

Several forms of income from prop-erty are measured separately. Imput-ed rental income of owner-occupiednonfarm dwellings, as in the BEA ac-counts, is included in nationalincome. For the TISA measure, how-ever, the BEA rental income is re-duced by net imputed interest, which,in TISA, is part of capital income.Hence, the TISA rental incomeamounts to only $9 billion.

Capital income of $370 billion en-compasses monetary and imputed in-terest. It includes, in addition to busi-ness interest paid, imputed intereston nonbusiness land, dwellings, struc-tures and equipment, consumer dura-bles and semidurables, and invento-ries.5 (The methodology for gross im-puted interest of the nonbusiness sec-tors, which is to apply a rate ofreturn to a capital stock, is illustratedin the subsection on the nonprofitsector account.)

Business profits (net of interest) gointo the net operating surplus of $248billion. The operating surplus in-cludes, in addition to BEA corporateprofits (with inventory valuation andcapital consumption adjustments),gross business investment in researchand development (R&D) of $34 billion,which—like any other item consid-ered investment—is not chargedagainst current income; governmententerprise surpluses of $12 billion;and net rental income of persons of$28 billion. To arrive at proprietors'capital income of negative $19 billion,which is also included, $139 billion ofimputed labor income of the self-em-ployed is subtracted from the BEA es-timate of $120 billion for proprietors'income.

4. The BEA figures included in TISA are as pub-lished in, or consistent with, those published in theJuly 1983 SURVEY. For reference, the addenda totables 1 and 7 show selected BEA aggregates.

5. Consumer semidurables consist of shoes and otherfootwear, clothing and accessories except footwear,and semidurable house furnishings. See table A.

TISA includes "net revaluations" inan effort to get closer to a consistenttheoretical measure of income aswhat can be consumed while keepingreal net worth constant. As noted ear-lier, net revaluations are the changein nominal value of tangible capital—land, dwellings, structures and equip-ment, consumer durables and semi-durables, and inventories—minus thechange in nominal value necessary tomatch changes in the general level ofprices. Tangible capital prices over1946-81 have generally increasedmore rapidly than the implicit pricedeflator for GNP. Net revaluationswere thus generally positive and fre-quently very substantially so. In 1981,however, they were a sharply nega-tive $154 billion. Net surplus, the sumof net operating surplus and net re-valuations, was thus reduced to $94billion in 1981.

National income of $3,682 billion is,then, the sum of labor income, rentalincome, capital income, net operatingsurplus, and net revaluations. Be-cause TISA includes income earned inproducing intangible capital, intangi-ble capital consumption allowancesare charged against TISA GNP. Theseamounted to $402 billion, $51 billionon R&D capital and $351 billion onhuman capital. TISA net nationalincome of $3,279 billion is then com-parable to the BEA national incomeof $2,373 billion; both national incomeestimates are measured net of the

capital consumption allowances asso-ciated with the investment includedin GNP.

TISA business transfer paymentswere $33 billion in 1981. They in-clude, in addition to the BEA's $13billion, $16 billion of entertainmentand other consumer services on radioand television and in the print mediathat are paid for by business, and $5billion of health and safety benefitsgiven to workers. TISA shows, as an-other nonincome charge against prod-uct, uncompensated factor services of$19 billion. These include a smallamount for jurors and $18 billion forthe services of volunteers in nonprofitinstitutions, particularly, in hospitals,schools, and churches. Earlier yearsshowed substantial amounts for mili-tary draftees, but now, without con-scription, this imputation is zero.

Because TISA considers govern-ment product in part intermediateand subtracts from BEA's GNP andgross business product the value of in-termediate government product esti-mated to be transferred to business, itmust correspondingly reduce thecharges against GNP. It is convenientto view indirect business taxes (non-profit and government enterprisetaxes are treated separately) as a wayof paying for government services toproduction, for which the income andnonincome charges have already beenincluded. Accordingly, TISA subtractsthe value of intermediate product

CHART 5

Gross National Product by Type of Product, 1981TOTAL INCOMES SYSTEM OF ACCOUNTS

($4,560.1 billion)BUREAU OF ECONOMIC ANALYSIS

($2,954.1 billion)

Gross DomesticCapital Accumulation

(36.8%)

NetExports(0.6%)

NetExports(0.9%)

U.S. Department of Commerce, Bureau of Economic Analysis


January 1985


transferred from government to busi-ness, $121 billion, from indirect busi-ness taxes. Finally, TISA adds noth-ing (except trivial rounding errors) tothe BEA statistical discrepancy.

These nonincome charges bringTISA net national product (NNP) to$3,425 billion, which may be com-pared to the BEA NNP of $2,625 bil-lion. Capital consumption allowancesadd $1,135 billion, $733 billion on tan-gible capital and $402 billion on in-tangible capital. These allowances arebroken into components relating tothe original cost of capital and thoserelating to revaluations (BEA's cap-ital consumption adjustment of con-sistent accounting at original cost tocurrent replacement cost). The bottomline of $4,560 billion is chargesagainst TISA GNP, as against theBEA GNP of $2,954 billion. The TISAand BEA GNP's are perhaps less com-parable than the NNP's, however, be-cause of TISA's added product andcapital consumption allowances relat-ing to nonbusiness and intangible cap-ital.

Credits

The credit side of the TISA nationalincome and product account includesconsumption of $2,856 billion andgross domestic capital accumulationof $1,678 billion, both of which differsubstantially from their BEA counter-parts, as detailed in what follows. Theremaining credit item is net exports,and it is the same as BEA's net ex-ports of $26 billion. (TISA and BEAdistributions of product by type ofproduct are contrasted in chart 5.)

For consumption, the BEA measureof personal consumption expendituresis basically changed to arrive at ameasure that includes, rather thanexpenditures for consumer durablesand semidurables (both of which aretreated as investment in TISA), thevalue of their services. These capitalservices are measured as the sum ofcapital consumption and a net imput-ed return. The items that accomplishthis substitution and other changesthat reconcile the BEA and TISAmeasures of consumption are shown,for convenience, in table A.

As indicated there, this changebegins with a number of TISA exclu-sions. First, TISA subtracts severalitems from BEA personal consump-tion expenditures: consumer pur-chases of durables and semidurables,

Table A.—Reconciliation of BEA and TISAMeasures of Consumption, 1981

[Billions of dollars]

Line

1234

5

67

8

910

11

121314151617181920

21

2223

24

BEA personal consumption expenditures .Less' Durables

SemidurablesCurrent expenditures of nonprofit

institutions.Medical care investment not includ-

ed in durables.Change in household inventoriesNet space rent, owner-occupied non-

farm housing.BEA nonhousing imputations

Equals: TISA gross household expendituresLess' Expenses related to work

Equals: Household expenditures for servicesand nondurables.Plus: Expense account items of consumption...

BEA nonhousing imputationsSubsidies to market consumptionTransfers

From businessFrom nonprofit institutionsFrom government enterprises ....From government

Nonmarket services produced in house-holds

Net space rent, owner-occupied non-farm housing, including subsidies.

Other capital servicesLabor services

Equals: TISA consumption

1,857.22361125.6123.5

60.0

.1178.6

445

1,088.1439

1,044.2

24.644.573

280.114881.060

1782

14554178.9

332.39443

2,839 6

BEA sources.—Line 1: National income and product accounts (NIPA)

table 2.2, line 1.Line 2: NIPA table 2.2, line 2.Line 3: NIPA table 2.4, lines 12, 13, and 33.Line 4: Unpublished detailed underlying NIPA table 2.4.Line 5: NIPA table 2.4, 0.5 (line 44-line 46-line 53-line

54-0.76 line 50).Line 7: NIPA table 8.8, line 74.Line 8: NIPA table 8.8, line 7.

the current expenditures of nonprofitinstitutions, medical care investmentnot already subtracted with durables,change in household inventories, andmost BEA imputations (including thatfor net space rent of owner-occupiednonfarm housing). These subtractionsleave in the TISA measure of con-sumption $1,088 billion of expendi-tures on services and nondurables in-cluded in BEA personal consumptionexpenditures. TISA subtracts, further,expenses related to work, which wereestimated at $44 billion in 1981.

TISA then puts back the excludedBEA imputations and adds a numberof others, some of major import.Among these, expense account itemsof consumption, including but not lim-ited to the notorious three-martinilunch, amount to $25 billion. Miscella-neous BEA imputations—for therental value of buildings and equip-ment owned by nonprofit institutionsserving individuals; meals, clothing,and lodging furnished by employers;food and fuel produced and consumedon farms; and checking and other fi-nancial services furnished to personswithout explicit charge—come to $44billion. Also, because the TISA meas-

ure of output is generally at factorcost rather than market prices, TISAconsumption includes the portion ofsubsidies, put at $7 billion (excludingsubsidies to owner-occupied nonfarmhousing), related to consumption.

TISA then adds $280 billion for"transfers" of consumption services tohouseholds from other* sectors. Theseinclude: $15 billion from business inthe form of media support and provi-sions for health and safety; $81 billionfrom nonprofit institutions in theform chiefly of health, education, andreligious services beyond what con-sumers paid for; $6 billion from gov-ernment enterprises from the sale ofgoods and services below cost; and, byfar the largest item, $178 billion fromgovernment for a variety of services,such as those of roads and parks, forwhich households would presumablyhave had to pay directly, rather thanby taxes, had they been furnished byprivate industry.

More than one-half of TISA con-sumption consists of $1,455 billion ofnonmarket services produced inhouseholds. In addition to $179 billionfor the net space rent of owner-occu-pied nonfarm dwellings included byBEA (plus subsidies to such housing),TISA includes $332 billion for the cap-ital services of consumer durables andsemidurables and of inventories. Asnoted earlier, these services are sub-stituted for the BEA item for corre-sponding personal consumption ex-penditures for durables and semidura-bles. The value of the services provessmaller than the BEA item in 1981,because the net imputed return is lessthan the excess of current expendi-tures over capital consumption.

Finally, TISA puts the value of non-market labor services in householdsin 1981 at $1,265 billion. (The method-ology is summarized in the subsectionon the household sector account.) Ofthis total, however, $321 billion is al-located to investment, generally inthe form of health and education ofhousehold members. Thus, $944 bil-lion remains for the preparation ofmeals, cleaning clothes, care of chil-dren, and other unpaid houseworkcounted as provision of consumptionservices.

TISA gross domestic capital accu-mulation, $1,678 billion in 1981, asmay be noted in the reconciliation


January 1985


presented in table B, is far largerthan BEA gross private domestic in-vestment. The BEA figure of $475 bil-lion includes only investment instructures and equipment by privatebusiness and nonprofit institutions,additions to inventories by privatebusiness, and (what TISA counts ashousehold) investment in owner-occu-pied nonfarm housing. TISA setsforth explicitly the $10 billion of in-vestment in structures and equipmentby nonprofit institutions and, in addi-tion, includes $22 billion of such in-vestment by government enterprises,$103 billion by government (including,in this case, $27 billion of product ac-cumulated in natural resources), andadditional investment by householdsof $236 billion in durables and $126billion in semidurables.

Reconciliation items are needed tobring sector sums in line with corre-sponding BEA totals because theprices at which intersector transac-tions are carried in the two datasources differ. These items, plus in-vestment in inventories—includingthat by government and households—are part of the $973 billion in totalgross domestic tangible capital accu-mulation at original cost. Intangibleinvestment is almost as large, $850billion. This total consists of: $69 bil-lion in R&D investment by business,nonprofit institutions, and govern-ment; $640 billion of investment inthe "stock" of education of the Ameri-can people; and $142 billion of invest-ment in their health. The value ofsubsidies and government enterprisetransfers allocated to investmentcomes to another $9 billion.

To arrive at total capital accumula-tion, TISA adds net revaluations ontangible capital—in 1981, a negativefigure of $154 billion, as alreadynoted. The negative net revaluationswere due to capital losses (after ad-justment for inflation) of $142 billionon land, $35 billion on consumer du-rables and semidurables, and $28 bil-lion on inventories. There were, how-ever, capital gains of $18 billion onstructures and equipment owned bybusiness and $51 billion on govern-ment structures and equipment.Homeowners lost $14 billion after ad-justment for inflation, and nonprofitinstitutions lost $4 billion.

The net export figure is the lastitem. That figure brings TISA GNP in1981 to $4,560 billion. Without net re-

valuations, TISA GNP of $4,714 bil-lion was 59.6 percent larger thanBEA GNP. Because much of TISAproduct is additional capital accumu-lation that requires additional capitalconsumption allowances, the excess,again without net revaluations, ofTISA NNP of $3,578 billion overBEA's NNP is considerably less, 36.3percent.

II. The Sector Accounts

Total TISA GNP is the sum of theproduct of each of the domestic sec-tors plus BEA's net product attrib-uted to the rest of the world. Becausethe TISA measures reflect a substan-tial amount of nonmarket output ofnonbusiness sectors, it is useful to set

Table B.— Reconciliation of BEA and TISAMeasures of Investment, 1981

[Billions of dollars]

Line

12

345

6

789

10111213141516171819202122

23

24

25262728

29

3031323334

35

36

BEA gross private domestic investmentLess: Structures and equipment owned by

nonprofit institutions.Owner-occupied nonfarm dwellingsChange in business inventoriesFixed gross private domestic invest-

ment reconciliation.

Equals: TISA business investment in struc-tures and equipment (original cost).Plus: Nonprofit institutions

StructuresEquipment

Government enterprisesStructuresEquipment

GovernmentStructuresEquipmentProduct accumulated

HouseholdsOwner-occupied dwellingsDurablesSemidurables

ReconciliationsFixed gross private domestic invest-

ment.Government capital accumulation

Equals: TISA gross domestic investment instructures and equipment and in householddurables and semidurables (original cost).Plus' Changes in inventories

BusinessGovernmentHouseholds

Equals: TISA gross domestic tangible invest-ment (original cost).Plus' Intangible investment

Research and developmentEducation and trainingHealth

Subsidies and government enterprisetransfers to households.

Net revaluations

Equals: TISA gross domestic capital accumula-tion.

474.910.3

82.518.519.1

344.5

10.38.61.7

22.320.12.2

102.732.643.4267

443.3825

236.1125629.719.1

10.6

953.8

190185

.4

.1

972.8

850268.5

6401141.6

8.5

1537

1,677.9

BEA sources.—Lines 1 and 4 (and 26): National income and product

accounts (NIPA) table 1.1, lines 6 and 15.Lines 2, 3, 7-15, and 18: BEA updates and revisions of

Fixed Reproducible Tangible Wealth in the UnitedStates, 1925-79.

Line 19: NIPA table 1.1, line 3.Line 20: NIPA table 2.4, lines 12, 13, and 33.Line 21: These reconciliations are necessary because some

of the investment series by sector are from BEA tangi-ble wealth presentations that differ from the NIPAinvestment series in their valuation of export sales ofused equipment and business capital-account transac-tions with government.

forth the full sector accounts. Theymake clear the major roles played bythe government and household sectorsin the production of goods and serv-ices and the contrasts to be drawnwith the corresponding BEA sectors.(TISA and BEA distributions of prod-uct by sector are contrasted in chart6.)

Unlike BEA's income and outlay ac-counts, the TISA sector accountsrelate income and product. In each ac-count, the TISA credits total to grosssector product—the sector's contribu-tion to GNP, that is, its value added.TISA debits are the charges againstgross sector products. In the businesssector, the foundation is the BEAgross domestic business product andthe charges against it. Various addi-tions and subtractions on the creditside arrive at TISA gross businessproduct, and corresponding adjust-ments are made to the debits. In all ofthe other sectors, total product is cal-culated on the debit side, utilizing es-timates of market transactions fromBEA and a number of imputations forlabor and property income and fornonincome costs or charges. Grossproduct of each sector other thanbusiness and, in part, government en-terprises, is allocated, along with in-termediate product from other sec-tors, to consumption and capital accu-mulation and, in the case of govern-ment, to intermediate product.

Business

The TISA business sector comprisesthe BEA business sector less owner-occupied nonfarm dwellings, govern-ment enterprises, and buildings andequipment owned by nonprofit insti-tutions. The TISA business sector ac-count, table 2, entails subtractions,corresponding to these exclusions,from BEA's gross domestic product ofbusiness, along with a number of ad-ditions.

As in the national account, addi-tions to BEA-type product are madeto reflect the altered scope of finalproduct. Subsidies received by busi-ness are included in the value of finalproduct so that product, not merelyincome, is at factor cost. Expense ac-count items of consumption and thevalue of employee training are includ-ed in final product and, on the debitside, in labor income. Business R&Dis also counted as final product, to go


January 1985


CHART 6

Gross National Product by Sector, 1981TOTAL INCOMES SYSTEM OF ACCOUNTS

($4,560.1 billion)

Nonprofit , ,— Government Enterprise(1.1%)

BUREAU OF ECONOMIC ANALYSIS($2,954.1 billion)

Households and NonprofitInstitutions

(3.3%)

Rest of the World(1.1%)

U.S. Department of Commerce, Bureau of Economic Analysis

into the total of investment ratherthan to be expensed, as in BEA prac-tice. The portion of expenditures foradvertising that supports entertain-ment for viewers, listeners, and read-ers is allocated to final product ratherthan wiped out as intermediate pur-chases of one firm from another. Busi-ness provision for health and safety ofemployees is also counted, as notedearlier, as a business transfer pay-ment entering into final product.

Among the items subtracted, sever-al are moved to nonbusiness sectors:space rent of owner-occupied nonfarmdwellings, to the household sector; theproduct of government enterprises, tothe government enterprise sector; andthe rental value of buildings andequipment owned (and used) by non-profit institutions serving individuals,to the nonprofit sector. Expenses re-lated to work are subtracted, as theywould be in the BEA accounts if em-ployers incurred them by providingtransportation to the job. Finally,$121 billion of intermediate productfrom government—covering servicessuch as those of defense, roads, andpolice—is also subtracted. With nega-tive net revaluations of $107 billion in1981, the BEA gross domestic productof business of $2,509 billion is thus re-duced to a TISA gross business prod-uct of $2,135 billion. Without net re-valuations, TISA gross business prod-uct of $2,241 billion is 10.7 percentless than BEA's gross domestic prod-uct of business.

Nonprofit institutions

Total product of the nonprofitsector, as in the case of all the non-business sectors, is estimated on thedebit side of the account, shown intable 3. It is the sum of the incomesof the labor and capital the sectoruses, net revaluations, and capitalconsumption allowances. Laborincome of $86 billion in 1981 consistsoverwhelmingly of compensation ofemployees, with a small addition foremployee training and a $4 billionsubtraction for expenses related towork. The value of output producedby labor also includes $18 billion thatis imputed—on the basis of estimatesof time spent in volunteer activitiesand the average wage of nonsupervi-sory service industry workers—to vol-unteer services.

Capital income of $6 billion is im-puted gross interest on land, struc-tures and equipment, and residentialproperty. It is calculated by applyingto the average of each year's begin-ning and ending stocks (see the sec-tion on capital stocks) a weighted av-erage of the after-tax rate of return tohousehold and business capital. Thisrate of return is obtained by dividingan estimate of total return—the sumof after-tax corporate profits, propri-etors' capital income, interest paid bybusiness and on owner-occupied non-farm housing, rental income, and im-puted interest on household capital,less personal taxes on business cap-

ital—by the total stock of businessand household tangible capital. Nega-tive net revaluations of $5 billion andcapital consumption allowances of $8billion are then added, to bring grossnonprofit product to $113 billion.

On the credit side of the account,the total of this product, expenses re-lated to work, intermediate productpurchased, and intermediate producttransferred from government is allo-cated between consumption and cap-ital accumulation. Consumption in-cludes $63 billion accounted for by ex-penditures in BEA personal consump-tion expenditures and an additionalimputation, amounting to $18 billion,of a portion of the services of capital,as measured by net imputed interest,and of volunteers. The capital accu-mulation total of $66 billion includessomething over $1 billion in R&D, $34billion in education and training, $36billion in health (which is, by assump-tion, one-half of the value of healthproduct), and again $5 billion of nega-tive net revaluations.

Government enterprisesProduct of government enterprises,

in table 4, is estimated on the debitside of the account as the sum oflabor income, $37 billion in 1981,measured net of expenses related towork; capital income and surpluses of$12 billion; and trivial net revalu-ations. The surpluses are the sum ofthe $6 billion that is the BEA itemcalled the current surplus of govern-ment enterprises, which is the net ofthe positive surpluses and negativesurpluses—that is, losses—for the var-ious categories of government enter-prises, and the almost equal amountthat is the sum of the absolute valuesof negative BEA surpluses. The latter,again, are included in order to meas-ure product in terms of factor costrather than, necessarily, the marketvalue of sales.

There are no capital consumptionallowances, and imputed capitalincome is very small, because all ofthe product of tangible governmententerprise capital, other than invento-ries, is attributed to governmentitself. One consideration underlyingthis procedure is that governmentsoften incur direct expenditures forthe provision of fixed capital to gov-ernment enterprises, so that the en-terprises do not, in fact, then cover


January 1985


capital costs in their sales. The mostimportant consideration, however, isthe need to allocate the imputed prod-uct of this capital by functions inwhich it was employed, and informa-tion for this allocation was generallyavailable only for capital of govern-ment and government enterprisescombined.

As with the business sector, thecredit side of the government enter-prise account starts with a measure ofthe market value of sales, minus, ofcourse, purchases of intermediategoods. Because there is no independ-ent information on intermediategoods, government enterprise netsales becomes the balancing item be-tween total credits and total debits.Credits must also include, then, thevalue of product not paid for by the$43 billion of sales net of purchases.Thus, the credit side shows $11 billionof transfers, stemming from imputedcapital income and negative surplusesthat government enterprises do notcover in their receipts, intermediateproduct from government less indirecttaxes, and employee training expendi-tures. The allocation of these trans-fers between consumption and capitalaccumulation, admittedly ad hoc, isbased on proportions in the rest of theeconomy.

Government

The TISA government sector ac-count, table 5, differs fundamentallyfrom that of BEA. TISA product origi-nating in government includes notonly the value of compensation of em-ployees or, more generally, laborincome, which came to $318 billion in1981; it also includes the value of cap-ital services, the sum of $69 billion ofimputed capital income and $91 bil-lion of capital consumption allow-ances, as well as $25 billion of net re-valuations. In addition, TISA includesthe value of uncompensated factorservices—a tiny item of less than $1billion for jury duty in 1981, but alarger amount in earlier years duringmilitary conscription.

The total of these debit items isgross government product, $504 bil-lion in 1981. This product plus thevalue of intermediate purchases fromother sectors and expenses related towork, but minus change in invento-ries and net revaluations, must thenbe allocated among consumption, cap-

ital accumulation, and intermediateproduct to other sectors. The alloca-tion, which also determines the partto be retained by government and thepart transferred to other sectors (be-cause government output is not, ofcourse, generally sold) involves a com-plicated three-step procedure. First,BEA government expenditures bytype of function are reclassified into10 broad functions: defense (includingpolice and fire protection), space, edu-cation and training, health, housingand community services, transporta-tion and mobility, local parks andrecreation, natural resources, welfare,and general administration. Second,the published data are adjusted toderive TISA measures of product byfunction. Third, for each function,product is allocated to consumption,investment, and intermediate productand among sectors.

Among the major allocations, serv-ices of defense, transportation, andgeneral administration are generallycounted as intermediate to other gov-ernment production or to the outputof other sectors. One-half of the costof manned space flights, which maybe taken as their entertainmentvalue, is viewed as consumption,along with major portions of the prod-uct associated with local parks andrecreation and of the transportationproduct going to households. Educa-tion and training is considered anoutput in the form of capital that istransferred to households. Healthservices are counted as one-half goingto human capital accumulation inhouseholds and one-half maintenance,or current consumption. Investmentin natural resources is counted ascapital accumulated by government.Housing and community services andwelfare are designated as consump-tion. R&D expenditures, associatedwith the defense and space functions,are viewed as creating an output thatis partly retained in government as astock of R&D knowledge and partlytransferred to business.

On the basis of these allocations,government contributes $130 billionof consumption services to householdsin 1981. Government production ofcapital amounts to $315 billion. Ofthis, $25 billion is in the form of R&Dexpenditures viewed as of direct useto business, and $255 billion of outputin the form of capital that goes tohouseholds. The latter includes $225

billion in education and training,mainly the cost of public schools, and$30 billion in health services. TheGovernment retains $35 billion of thecapital it produces, $8 billion in R&D,and $27 billion in natural resources.Further, government contributes $234billion of services that are intermedi-ate to the output of other sectors,chiefly $121 billion to business and$103 billion to the household sector.

Households

Gross household product, in table 6,is the sum of labor income, $1,271 bil-lion in 1981, $143 billion of capitalincome, and $360 billion of tangiblecapital consumption, plus negativenet revaluations of $66 billion. Grosshousehold product in 1981 was thus$1,709 billion—only moderately small-er than gross business product of$2,134 billion.

Actual compensation of employeesin households is, of course, veryminor—only the $7 billion, in 1981,denoted by BEA as household prod-uct. The big items in labor income inthe household sector are the imputa-tions for the opportunity costs of stu-dents, $284 billion, and for unpaidhousehold work, $981 billion. In viewof the size of these items, some moreextended discussion of their deriva-tion may be in order.

Opportunity costs of students relateto those 14 years of age and over. Theestimates were originally prepared byKendrick for 1946-69 and 1973.6 Theyare based on wages estimated to beavailable at the relevant ages andschool enrollments. Kendrick's esti-mates were extended largely on thebasis of later enrollment figures andchanges in average annual compensa-tion of the total labor force, whichwere taken to be proportional tochanges in compensation available tostudents.

The value of unpaid householdwork is taken conservatively to be theproduct of annual hours in relevanthousehold activities and the averagehourly compensation of household do-mestic workers. The time estimateswere derived from the MichiganSurvey Research Center time usestudies of 1965, 1975, and 1981, withthe 1975 survey used as the bench-mark. Mean weekly use of time in a

6. Kendrick, The Formation and Stocks of TotalCapital and unpublished tables.


January 1985


set of household activities related towhat is classified as nonmarketoutput was calculated for respondentsand spouses, each cross-classified bysex and as employed or nonemployed.Corresponding figures for 1965 werederived by applying the rates ofchange indicated on a 1965-75 "com-parison tape" to the 1975 data. For1981, a panel of common respondentsin 1975 and 1981 was used to deriveage-adjusted rates of change betweenthose years, and these were applied tothe 1975 data to secure estimates ofmean time use in each of the four cat-egories. Estimates for 1966-74 and1976-80 were derived by geometric in-terpolation. Mean time use for 1946-64, however, was taken to be thesame as in 1965. The mean annualtime use per person in each categoryin each year was multiplied by theapplicable number of persons in theNation to derive figures for total timein activities related to ordinary house-work as well as education of children,medical and health services, volun-teer activities, and travel to work.

The capital income attributed tohouseholds consists of two items. Thelargest is $101 billion for owner-occu-pied nonfarm dwellings. Of this, $91billion is gross imputed interest, leav-ing only some $9 billion for net rentalincome. The remaining $43 billion isimputed interest on the stock of con-sumer goods held by households.

Capital consumption allowances onintangible capital amounted to $351billion. These are subtracted to get ameasure of net income originating,after including net revaluations, of$997 billion. The intangible capitalconsumption allowances, along withtangible capital consumption allow-ances, are added back to get totalgross household product.

Before this product is allocated be-tween consumption and capital accu-mulation, $103 billion of intermediateproduct transferred from governmentand the $1 billion for expenses of do-mestic employees related to travel towork must be added. After accountingfor $19 billion of consumer durablecapital services related to travel towork by members of households,$1,511 billion of household product isconsumed and $283 billion of productis invested. Of the nonmarket prod-uct, $179 billion is the net space rentof owner-occupied nonfarm dwellingsand $332 billion is the value of other

capital services, essentially from thestock of consumer goods. Of imputedlabor services, $944 billion are count-ed as consumption, and the remaining$321 billion go to capital accumula-tion.

Most of that capital accumulation isthe $284 billion for education, whichis equal to the opportunity cost of stu-dents and is considered intangiblecapital accumulated in the household.In addition, $27 billion is for thevalue of time devoted to teaching chil-dren in the home and $18 billion isfor intermediate product of govern-ment to education. One-half of thevalue of time devoted to health, $13billion, is also counted as investment.Net revaluations in 1981 amounted tocapital accumulation of negative $66billion.

III. Constant-Dollar Accountsand Capital Stock Series

The constant-dollar accounts, tables7-12, are generally analogous to thecredit sides of the current-dollar ac-counts. The addenda to table 7 show

constant-dollar NNP and net nationalincome as well as the nonincomecharges against product that must besubtracted from GNP to derive them.Table C shows summary statistics forall years 1946-81.

Constant-dollar series for the BEA-based components of TISA are takendirectly, where possible, from (usuallyunpublished) BEA tables. For otheritems, implicit price deflators provid-ed by BEA, or constructed from BEAseries or from combinations of BEAseries and non-BEA TISA compo-nents, are used to deflate current-dollar measures.

With regard to capital accumula-tion, constant-dollar sectoral invest-ment figures were taken from BEAcapital stock series.7 Investment inhousehold inventories is the differ-ence between successive end-of-yearstocks calculated on the assumption

7. BEA estimates of the stock of privately ownedand government-owned durable equipment and struc-tures and of durable goods owned by consumers for1925-79, as well as investment series used to preparethe estimates, are in Fixed Reproducible TangibleWealth in the United States, 1925-79 (Washington,DC: U.S. Government Printing Office, 1982). Updatedand revised estimates, which were used for the periodbeginning in 1973, are available from BEA.

Table C.—National Income and Product Account: Summary Statistics, 1946-81

[Billions of 1972 dollars]

Year

19461947194819491950.,

19511952195319541955

1956195719581959I960

19611962196319641965

19661967196819691970

19711972197319741975 ..

19761977197819791980

1981

GNP

763.4967.8973.4936.7978.5

1,061.71,035.61,087.71,089.11,178.7

1,212.91,205.31,218.01,254.51,281.9

1,321.61,377.01,418.01,521.71,578.3

1,656.61,688.41,759.61,781.71,802.9

1,844.12,046.82,210.72,140.11,965.3

2,272.22,332.82,446.72,451.02,325.5

2,310.4

Consump-tion

667.6648.4660.2649.3659.4

672.5689.0706.1723.7747.0

765.6783.8797.5820.7839.8

862.4881.8903.4935.0967.5

993.61,016.21,044.11,065.21,091.1

1,110.21,143.71,167.01,176.51,207.8

1,249.11,286.81,327.91,367.31,403.0

1,430.0

Gross domestic capital accumulation

Total

77.9295.4300.1275.0315.0

381.4341.0379.5361.2426.8

439.0410.3415.5431.7434.2

449.7486.2504.1572.9599.1

654.5664.2710.4711.7704.5

729.6902.3

1,030.3952.0736.2

1,012.61,048.81,119.51,075.5

909.0

866.8

Original cost

Tangible

135.1135.5154.6153.8192.4

210.8222.7239.8226.9245.6

243.2235.5229.6252.1248.9

247.4276.8291.9305.4333.6

360.1363.5381.4394.8364.1

388.8421.8458.2432.5392.1

437.8484.4526.0526.6492.1

521.5

Intangible

123.0114.2112.5108.4114.7

120.7125.3133.5137.4149.7

153.4161.4165.3178.6185.7

194.3206.5219.5237.5252.4

274.8296.2310.9323.8334.4

349.4372.0388.6382.2382.6

393.2401.8408.8411.7407.5

414.6

Netexports

17.924.013.112.44.1

7.75.52.14.24.9

8.411.24.92.18.0

9.69.0

10.613.811.8

8.58.05.24.87.3

4.3.7

13.411.621.3

10.4-2.8-.78.1

13.4

13.5

Netnationalincome

566.7771.5791.4746.2776.5

855.0819.7858.4847.8932.2

960.7945.7949.8979.3996.3

1,022.31,062.71,091.11,182.11,227.6

1,289.61,305.01,359.31,355.51,358.1

1,376.31,561.31,705.11,618.51,439.6

1,728.81,774.11,868.21,852.71,705.1

1,678.8

Netnationalproduct

531.8755.7775.7749.4795.9

875.6839.8882.7875.3957.8

986.5972.7979.5

1,009.51,029.4

1,060.51,107.31,137.81,230.21,274.6

1,339.31,353.91,408.01,413.31,418.4

1,445.11,631.91,779.31,695.01,510.5

1,803.51,850.81,948.61,934.11,790.6

1,762.6

Netdomesticcapital

accumula-tion

-153.683.3

102.487.7

132.4

195.3145.3174.5147.4205.9

212.5177.7177.1186.7181.6

188.5216.5223.9281.4295.3

337.2329.7358.8343.3320.0

330.7487.4598.9506.9281.4

544.0566.9621.4558.6374.2

319.2


January 1985


that nondurable household goodshave a 2-week life. Net revaluationsin constant dollars are calculatedwith the implicit price deflator forfixed investment.

As is BEA procedure, componentsof income are not generally offered inconstant dollars. Since, however, inall sectors except business, total prod-uct is estimated on the debit side, in anumber of important instances cur-rent-dollar debit figures must be de-flated in order to get the constant-dollar credit items that depend uponthem. Thus, for example, the deflatorfor personal consumption expendi-tures is applied to opportunity costs ofstudents, and a domestic wage defla-tor is applied to unpaid householdwork.

TISA departs from convention fornet exports and applies essentiallythe alternative "command" conceptpresented by BEA.8 Instead of defin-ing net exports as constant-dollar ex-ports minus constant-dollar imports,TISA defines them as current-dollarnet exports divided by the GNP im-plicit price deflator. With this meas-ure of net exports, constant-dollarGNP better reflects the goods andservices actually available to the resi-dents of the United States. TISA netexports in constant dollars thus equalthe conventional BEA net exportsplus a "terms of trade effect," reflect-ing the fact that more or less U.S.goods must be produced to get a givenreal quantity of foreign goods. In1981, the terms of trade effectamounted to minus $30 billion 1972dollars, converting a $43 billion BEAnet export surplus to one of only $13billion in TISA.

The capital stock series in currentand constant dollars, shown in tables13 and 14 with corresponding implicitprice deflators in table 15, are consist-ent with the income and product ac-counts. Constant-dollar capital stocksat the end of each year in each sectorequal capital stocks at the end of theprevious year plus gross capital accu-mulation (including net transfer ofcapital into the sector), minus capitalconsumption allowances. Current-dollar capital stocks equal previousstocks plus gross capital accumulation(includes net transfers), minus cur-rent-cost capital consumption allow-

ances, plus gross revaluations. (Netrevaluations of tangible capital in theincome and product accounts maythen be calculated from the gross re-valuations by netting out the portionattributable to changes in the generallevel of prices.)

Tangible capital stocks other thanland are generally BEA series.9 Con-sistent with the inclusion of all in-vestment in the TISA income andproduct accounts, the capital stocksinclude residential and nonresidentialstructures and equipment in all sec-tors—government, government enter-prises, and households, as well asbusiness and nonprofit institutions—and, for households, durables, semi-durables, and inventories, along withhousing. The separate estimates ofland in all sectors are usually fromseries provided by the Flow of FundsSection of the Board of Governors ofthe Federal Reserve System.

Intangible capital relates either toR&D, credited to the business andgovernment accounts, or to health oreducation and training. Stocks relatedto the latter, wherever produced, aredeemed human capital owned byhouseholds.

The methodology for intangible cap-ital stock series is largely similar tothat employed by Kendrick.10 Wherepossible, his series are used for theyears he covered, and they are extrap-olated and interpolated, with the aidof associated series, for other years.His investment in mobility and basicchild-rearing is excluded, however,while TISA adds the value of timespent in education and in medicalcare in the home.

TISA employs the gross simplifyingassumption that most human capitalis general—that is, not tied to anyparticular job or occupation—andthat general human capital has aservice life of 50 years. However, foremployee training, military educa-tion, and safety and health spendingby business, 40 percent of the invest-ment is assumed to be specific—thatis, useful to employees only as long asthey remain in the activity for whichthe capital was provided. Service livesfor specific capital are assumed to beequal to the average length of em-ployment in the sector in which it is

8. See Edward F. Denison, "International Transac-tions in Measures of the Nation's Production," SURVEY61 (May 1981): 17-28.

9. See footnote 7.10. Kendrick, The Formation and Stocks of Total

Capital and unpublished tables.

produced. As indicated earlier, onlyone-half of health services is consid-ered investment. The inference thatmuch of the noninvestment half is for"maintenance" of the elderly maysupport the reasonableness of the as-sumption of the 50-year average lifefor general health capital.

R&D investment series are general-ly from the National Science Founda-tion. Applied R&D capital is assumedto have a service life of 20 years, andbasic R&D capital is assumed to lastforever.

IV. Substantive Highlights

In 1981, TISA NNP was 30 percentmore than the BEA NNP, and 36 per-cent more if the negative net revalu-ations of that year are excluded (tableD). Constant-dollar TISA GNP was 53percent more than BEA GNP in 1981,and 57 percent more if the negativenet revaluations are excluded.

The difference between TISA andBEA measures of product relates pre-ponderantly to TISA's inclusion ofnonmarket product. Over one-half isaccounted for by the TISA imputationfor the product of unpaid householdlabor. The remainder is made upmostly of opportunity costs of stu-dents and capital services in house-holds, government, and nonprofit in-stitutions. The latter was 14.9 percentof TISA GNP in 1981. TISA imputa-tions of labor income were 32.9 per-cent of TISA GNP, thus bringing totallabor income, even after deduction ofexpenses related to work, to 81 per-cent more than BEA's compensationof employees.

TISA picks up a great deal of whatmay be viewed as capital formationthat is not encompassed in the BEAdefinitions of gross and net privatedomestic investment. BEA's gross pri-vate domestic investment—tangibleinvestment by business and nonprofitinstitutions along with housing—ac-counted for only 25.9 percent of TISAgross capital accumulation excludingnet revaluations in 1981. The con-stant-dollar figure was 24.2 percent.TISA net domestic capital accumula-tion in current dollars was 19.5 per-cent of TISA NNP, both excluding netrevaluations; BEA net private domes-tic investment, by contrast, was only


January 1985


Table D.—National Income and Product Account: TISA as Percent of BEA

Year or multi-year mean

19461951195619611966197119761981

1946-551956-651966-751976-811946-81

Based on current dollars

GNP/GNP

138.7169.3172.3168.1164.9164.4178.5154.4

166.7167.5167.1168.9167.4

Consumption/PCE

175.3158.0164.5169.0159.5158.5156.2153.8

164.4165.2157.4154.0160.9

GDCA/GPDI

101.6385.8399.4413.7396.5421.7527.6353.3

360.3403.4441.1436.7407.4

NNI/NI

118.8162.4161.1156.3153.9151.4169.0138.2

155.9155.9155.2156.4155.8

NNP/NNP

101.1150.2151.0146.1144.4141.5157.2130.5

142.2145.8145.2146.8144.8

NDCA/NPDI

-373.1389.0419.0455.9392.6455.5867.0373.0

282.6429.1519.5586.1439.7

Based on constant dollars

GNP/GNP

159.6183.3180.6174.7168.2164.3175.0152.6

182.4174.4167.6165.2173.2

Consumption/PCE

221.8196.9188.9186.9169.7159.3151.8149.5

201.7184.2160.3149.2176.6

GDCA/GPDI

109.9406.0427.7432.8401.5419.6548.8381.0

376.2421.5444.8463.9422.5

NNI/NI

140.9178.3172.2164.2158.0151.0165.8138.5

173.8164.5155.9154.0163.0

NNP/NNP

119.7163.9160.4153.3147.8141.4153.7129.8

157.7153.5145.8143.7150.9

NDCA/NPDI

4159401.2461.0485.1399.8449.0915.6445.6

287.3456.9530.7647.6462.1

NOTES.—TISA:

GDCAGNPNDCANNINNP

Gross domestic capital accumulation.Gross national product.Net domestic capital accumulation.Net national income.Net national product.

BEA:GNPGPDININNPNPDIPCE

Gross national product.Gross private domestic investment.National income.Net national product.Net private domestic investment.Personal consumption expenditures.

5.5 percent of BEA NNP. Further,BEA net private domestic investmentwas only 20.9 percent of TISA net do-mestic capital accumulation excludingnet revaluations and 60.7 percent ofTISA net tangible capital accumula-tion at original cost.

Similar proportions show up in themeasures of capital stocks. Businessnonresidential structures and equip-ment, to which much attention is usu-ally given as a source of productivity,amounted to 11.2 percent of totalTISA capital in all sectors—includingintangible capital as well as land andreproducible tangible capital—of some$24 trillion at the end of 1981. Struc-tures and equipment in governmentcame to 6.3 percent and in govern-ment enterprises to another 1.8 per-cent, and the household stock of con-sumer durables and residential cap-ital came to 13.2 percent. The stock ofintangible capital in the form of R&Dwas 2.7 percent of the total, and in-tangible human capital from invest-ment in education and training andin health came to 45.0 percent. Intan-gible capital, thus, was almost one-half—47.7 percent—of the total stockof capital in 1981, while tangible re-producible capital amounted to only41.1 percent, and land, 11.3 percent.

Over the long run, there has appar-ently been some substitution of themarket output generally measured inthe BEA GNP for the nonmarketoutput also included in TISA. Thus,while the average annual rate ofgrowth of BEA real GNP was 3.35percent from 1946 to 1981, thatgrowth rate for TISA GNP excludingnet revaluations was only 2.68 per-cent. Corresponding growth rates for

BEA and TISA real NNP were 3.24percent and 2.74 percent, respectively.Including net revaluations, the aver-age growth rate of TISA GNP was3.21 percent, but that reflected consid-erably the negative net revaluationsfor 1946.

Substantially negative net revalu-ations in 1981 contributed to lowerreal rates of growth in the 1976-81period for TISA measures of totalproduct and, particularly, capital ac-cumulation. Excluding net revalu-ations, however, a marked decline inthe real rate of growth of TISA grossdomestic capital accumulation is stillapparent—to 3.04 percent for 1966-71and only 2.37 percent for 1971-76 and2.43 percent for 1976-81, comparedwith 4.36 percent and 4.83 percent inthe two previous decades. Despitemuch concern expressed in somequarters, BEA gross private domesticinvestment actually had a substan-tially larger real rate of growth in1976-81, 4.28 percent, than the 3.39percent over the entire 1946-81period. (BEA net investment grew lessrapidly, but that may reflect some dis-tortion in the capital consumption ad-justment.) The rate of growth of tan-gible government capital accumula-tion at original cost was only 2.32 per-cent (4.87 percent for government en-terprises), compared with 3.44 percentfor business, 4.45 percent for nonprof-it institutions, and 3.80 percent forhouseholds.

Of particular note are the relativegrowth rates of tangible and intangi-ble investment. Over the entire 1946-81 period, constant-dollar tangiblecapital accumulation at original costgrew at an average annual rate of3.94 percent, while intangible capital

accumulation grew at a rate of 3.53percent. Contrasts over subperiods,however, are sharper. Tangible cap-ital accumulation showed declininggrowth rates in the first two dec-ades—6.06 percent and 4.00 percent—and then only 1.55 percent in 1966-71before rising to 2.40 percent in 1971-76 and 3.56 percent in 1976-81. Thepattern of growth in intangible in-vestment, however, showed an in-crease, from 2.24 percent in 1946-56to 6.01 percent in 1956-66, followed bydeclines to 4.92 percent in 1966-71, to2.39 percent in 1971-76 and to 1.07percent in 1976-81. The last declinestemmed from a falloff, to 0.49 per-cent, in the rate of growth of capitalaccumulation in education and train-ing.

TISA suggests some substantial cor-rection to the views of those who haveasserted that Americans have beenenjoying more and more consumptionat the expense of investment. Whennonmarket product going to consump-tion—chiefly from the householdsector but also from government, non-profit institutions, and business—istaken into account, a different pictureemerges. In contrast to the rates ofgrowth of 3.94 percent and 3.53 per-cent over the 1946-81 period notedabove for constant-dollar tangible andintangible capital accumulation, re-spectively, and 3.36 percent for BEApersonal consumption expenditures,TISA total consumption grew at anaverage annual rate of only 2.20 per-cent. In the first two decades, thegrowth rates of consumption were,consecutively, 1.38 percent and 2.64percent, and then 2.24 percent in1966-71 and 2.39 percent in 1971-76.In 1976-81, that growth rose to 2.74


January 1985


Table E.—Sector Products

Year

1946 .„19511956 „1961.1966197119761981

1946....~195119561961 ...... .1966197119761981

Current dollars

Total(GNP) Business Non-

profitGovern-

mententerprise

Govern-ment

House-hold

Rest ofworld

Billions of dollars

291.1559.9726.5882.0

1,246.81,771.23,067.24,560.1

118.7278.3347.1400.2584.7795.0

1,452.42,134.5

5.29.6

13.819.429.645.670.8

113.3

3.44.66.58.7

12.219.630.849.8

41.663.888.1

105.2153.6225.7326.4504.3

121.3201.5267.8344.5461.0676.1

1,166.41,708.7

0.82.13.23.95.69.2

20.549.6

Percent of total product

100.0100.0100.0100.0100.0100.0100.0100.0

40.849.747.845.446.944.947.446.8

1.81.71.92.22.42.62.32.5

1.2.8.9

1.01.01.11.01.1

14.311.412.111.912.312.710.611.1

41.736.036.939.137.038.238.037.5

.3

.4

.4

.4

.5

.5

.71.1

Constant dollars

Total(GNP) Business

763.41,061.71,212.91,321.61,656.61,844.12,272.22,310.4

193.9435.0507.5540.5732.1819.9

1,087.71,093.5

Non-profit

Govern-ment

enterpriseGovern-

mentHouse-hold

Rest ofworld

Billions of 1972 dollars

22.124.729.935.445.348.551.851.5

10.812.814.716.219.121.223.128.1

178.3138.8166.4180.2222.8240.8244.6249.4

351.8449.1491.0542.6627.9701.5864.3891.7

6.51.33.46.89.4

12.2.6

3.9

Percent of total product

100.0100.0100.0100.0100.0100.0100.0100.0

25.441.041.840.944.244.547.947.3

2.92.32.52.72.72.62.32.2

1.41.21.21.21.21.11.01.2

23.413.113.713.613.513.110.810.8

46.142.340.541.137.938.038.038.6

.8

.1

.3

.5

.6

.70-.2

percent, but this was still well belowthe corresponding 3.56 percent ratefor tangible capital accumulation atoriginal cost.

Rates of growth of the businesssector were considerably larger overthe entire 1946-81 period than thoseof government and households. Inconstant dollars, the growth rateswere 5.07 percent for business, 0.96percent for government, and 2.69 per-cent for households. The low govern-ment-sector figure reflected, in part,the relatively large government prod-uct in 1946, before World War II de-mobilization had been completed. In1981, TISA gross business product incurrent dollars was still less than one-half—46,8 percent—of TISA GNP(table E). The share of the nonprofitsector was 2.5 percent, that of govern-ment and government enterprisescombined was 12.1 percent, and thatof households was 37.5 percent.

TISA real growth rates should beinterpreted with caution, however. Aswith the BEA figures, their accuracydepends critically on the accuracy ofunderlying price deflators. Manyprice deflators are essentially input-based, and may well omit or under-state significant effects of change inproductivity. It may be observed, inparticular, that while TISA implicitprice deflators for consumption andintangible capital accumulationmoved in quite parallel fashion, thatfor tangible capital formation rosemore slowly (table F). Over the entireperiod 1946-81, deflators for consump-tion and intangible capital accumula-tion rose at average annual rates of4.87 percent and 5.20 percent, respec-tively, but that for tangible capitalformation rose at a rate of only 4.05percent. If the increase in the relativeprice of intangible capital is overstat-ed, the rates of growth in real intan-

gible and total capital formation rela-tive to BEA investment figures arealso correspondingly understated.

Whatever the caveats in this verysummary presentation, a number ofsalient findings demand attention.Nonmarket output provides an enor-mous—even if declining—proportionof total U.S. product. Corresponding-ly, business product, while growing ata more rapid rate than nonbusinessproduct, is still less than one-half ofthe total. Similarly, the great bulk ofcapital accumulation takes place out-side of the business sector, and moreof it takes the form of intangible thantangible capital. Analysts and policy-makers cannot properly ignore themajor contributions of the householdand government sectors to capital ac-cumulation and to total product. Con-sideration of the Nation's fundamen-tal set of choices between current con-sumption and investment for the


January 1985


Table F.—Implicit Price Deflators and Inflation Rates, GNP and Components, 1946-81

Year

19461947194819491950

19511952195319541955.

19561957195819591960

19611962196319641965

19661967196819691970

19711972197319741975

19761977197819791980

1981

Implicit price deflators (1972=100)

GNP

38.143.946.747.148.5

52.754.255.756.558.0

59.961.762.864.466.0

66.768.169.270.672.6

75.378.082.386.691.5

96.1100.0105.7116.1125.5

135.0143.9154.4167.5182.3

197.4

Consumption

37.842.143.944.545.3

48.651.253.254.755.7

57.259.360.862.464.5

65.666.868.069.571.7

74.777.482.086.491.5

96.0100.0106.1116.6125.5

135.5144.5154.7168.2183.9

199.7

GDCA

Total

40.047.552.753.055.1

59.960.060.360.362.0

64.666.266.768.068.7

68.870.571.372.473.9

76.178.982.687.091.5

96.2100.0105.2115.4125.7

134.3143.2153.9166.6179.8

193.6

Original cost

Tangible

46.453.159.259.161.0

65.765.164.564.866.4

69.471.471.372.873.2

72.874.374.775.676.6

78.581.084.588.692.4

96.9100.0104.2113.9125.1

131.6140.1149.6161.7173.6

186.5

Intangible

34.840.243.544.145.0

49.251.052.452.954.1

56.058.259.761.262.6

63.665.366.768.270.2

73.076.480.485.090.5

95.4100.0106.1116.6126.9

135.2144.5155.4169.3187.2

205.1

Net exports

43.949.653.052.553.6

57.157.958.859.560.8

62.864.966.067.668.7

69.370.671.772.874.4

76.879.182.586.891.4

96.0100.0105.8115.1125.8

132.3140.1150.4163.4178.4

195.1

NNI

37.443.545.945.947.6

52.153.154.755.457.3

58.660.061.162.864.6

65.667.168.370.072.1

75.077.782.186.591.5

95.9100.0105.9116.2124.6

134.8143.7153.9166.9181.1

195.3

NNP

37.243.445.945.947.7

52.153.254.855.557.3

58.660.161.262.964.8

65.767.368.570.172.2

75.077.782.286.591.6

96.0100.0105.8116.0124.5

134.5143.1153.0165.7179.7

194.3

NDCA

40.451.857.755.359.6

63.862.161.559.563.1

63.763.362.764.865.6

66.069.370.672.173.5

75.778.682.787.091.6

96.399.9

105.2114.7120.0

132.1139.7149.2159.6163.6

169.9

Annual inflation rate

GNP

15.26.4.9

2.9

8.82.72.81.62.6

3.23.01.82.42.5

1.22.01.62.12.7

3.73.65.55.35.7

4.94.15.79.88.2

7.56.67.28.58.8

8.3

Consumption

11.54.21.51.7

7.45.33.82.82.0

2.53.72.62.73.4

1.71.71.82.33.2

4.13.66.05.36.0

4.84.26.19.97.6

8.06.67.18.79.4

8.6

GDCA

18.911.0

.53.9

8.7.3.4

02.8

4.22.5

.72.1

.9

.22.41.11.62.0

3.13.74.75.35.2

5.14.05.29.78.9

6.96.67.48.37.9

7.7

NOTES.—GDCA Gross domestic capital accumulation.GNP Gross national product.NDCA Net domestic capital accumulation.NNI Net national income.NNP Net national product.

future may well take into account theevidence that total consumption hasin fact been growing less rapidly thantotal capital accumulation.

Finally, and not the least, this pres-entation should be an important re-minder that it can be done! A compre-hensive, consistent set of accounts,

patterned after the traditional nation-al income and product accounts, canbe put together to offer a moving pic-ture of total product and income,market and nonmarket, of all sectorsof the economy. It may be hoped thatthese accounts will enhance our abili-ty to measure the state of the Na-

tion's welfare and its progress and toestimate basic macroeconomic rela-tions of the economy. It may also behoped that resources will be found toextend and improve upon these ac-counts in the future.

Tables 1-15 follow on pages 36-^8.


January 1985


Table 1.—National Income and Product Account

Line

123456789

1011

121314

151617181920212223242526

27282930313233343536

373839404142

43

44

454647

48

49505152

53545556

575859

606162

63

6465666768697071727374

75

Labor incomeCompensation of employees

Domestic .Rest of world

Additional imputationsEmployee trainingExpense account items of consumptionLabor income of self-employedOpportunity costs of studentsUnpaid household work

Less' Expenses related to work

Rental income owner-occupied nonfaim dwellingsGross rental income

Less: Net imputed interest on owner-occupied nonfarm dwellings andland.

Capital incomeInterest paidNet imputed interest (excluding business)

Gross imputed interestLand ~~~ ~~~ ~-Owner-occupied dwellings . ....Structures and equipmentConsumer durables and semidurables .. . ... ....InventoriesGovernment research and development ... ....

Less' Interest paid (excluding business)Net interest, rest of world .

Net operating surplusCorporate profits

DomesticRest of world .

Proprietors' capital incomeProprietors' income . ....Less' Labor income of self-employed

Gross business investment in research and developmentGovernment enterprise surplusesNet rental income of persons

Net revaluationsLand .Owner-occupied dwellingsStructures and equipment other than owner-occupied dwellingsConsumer durables and semidurablesInventories . . .. ..

Net surplus (27+37)

National income (1 + 12-1-15+43)

Less: Intangible capital consumptionCapital consumption on all research and developmentCapital consumption on human capital

Net national income (44—45)

Business transfer paymentsMedia support ..Health and safetyOther

Uncompensated factor servicesVolunteersDrafteesJurors

Net indirect business taxesIndirect business taxes ... ..Less' Intermediate product transferred from government to business

Statistical discrepancyBEA statistical discrepancyTISA statistical discrepancy

Net national product (48+49+53+57+60)

Capital consumption allowancesTangible

Original costRevaluations

IntangibleOriginal cost .

On research and developmentOn human capital

RevaluationsOn research and developmentOn human capital

Charges against gross national product (63+64)

Debits

Billions of dollars

1946

268.9118.0118.1

0153.7

9.61.9

35.311.695.32.9

.11.81.6

14.06.57.4

13.3.8

2.26.02.31.9.1

5.9.2

23.616.615.9

.71.4

36.735.3

.81.23.7

-75.3-21.8-6.1

-22.8-13.9-10.7

-51.6

231.4

19.3.7

18.6

212.1

1.4.6.3.5

3.42.11.30

-19.616.035.6

.5

.50

197.9

93.273.958.515.419.315.8

.515.23.5.1

3.4

291.1

1956

483.1243.5243.6-.1

248.312.64.0

42.325.4

164.18.8

.56.15.6

33.916.417.131.63.58.49.87.12.6

.314.6

.4

56.243.740.92.81.7

43.942.33.32.05.5

27.721.745

14.0-2.6-.8

84.0

601.4

38.42.9

35.5

563.0

3.91.9.7

1.4

10.34.26.0.1

3.131.628.4

-2.1210

578.2

148.3109.992.217.738.424.02.3

21.714.4

.613.8

726.5

1966

841.3439.3439.2

0416.125.46.3

55.660.9

267.914.1

.910.910.0

82.243.537.370.111.717.223.113.63.21.2

32.81.4

108.985.180.94.24.9

60.555.67.23.87.8

12.016.44.13.5

-7.3-4.7

120.8

1,045.2

78.510.168.3

966.7

8.24.01.23.0

17.16.8

10.1.2

10.456.446.0

1.41.40

1,003.8

243.0164.6150.314.378.550.68.7

41.927.81.4

26.4

1,246.8

1971

1,240.7652.2652.1

0609.732.18.9

68.5116.9383.321.1

1.211.210.0

110.174.633.583.112.522.526.017.92.81.4

49.72.0

109.183.276.17.1

.969.468.510.75.39.1

-12.0-9.9

7.714.2

-20.5-3.5

97.1

1,449.2

129.617.8

111.9

1,319.5

11.25.01.84.4

24.910.314.3

.4

28.187.959.8

4.14.10

1,387.9

383.3253.7213.240.5

129.680.513.666.849.24.1

45.1

1,771.2

1976

1,960.11,036.31,036.4

0956.846.613.995.5

188.6612.333.0

2.910.77.8

166.1130.829.0

116.819.134.534.624.12.81.7

87.76.2

174.8138.1123.814.3

-1.494.195.517.47.8

12.8

248.4137.551.512.5

-11.358.3

423.3

2,552.4

221.330.2

191.1

2,331.0

19.08.52.67.9

15.615.00.6

54.4128.674.3

5.15.10

2,425.1

642.1420.8311.9108.8221.3126.419.6

106.894.910.684.3

3,067.2

1981

3,208.71,769.21,769.3

01,502.0

73.724.6

138.8284.2980.762.5

9.313.34.1

369.8332.111.8

209.736.470.154.341.84.92.2

197.926.0

247.7192.3168.723.7

-18.6120.2138.833.912.128.0

-153.7-142.4-13.7

64.9-34.9

277

94.0

3,681.8

402.351.2

351.1

3,279.5

33.515.84.7

12.9

18.718.00.7

98.0219.3121.3

49-4.9

0

3,424.7

1,135.5733.1494.2239.0402.3205.829.0

176.8196.522.2

174.3

4,560.1

Average annual percent change

1946-56

6.0337.5097.509

n.a.4.9112.7367.8281.8118.1035.585

11.732

13.03913.31313.337

9.2079.7638.6569.058

15.97514.1814.979

11.9053.264

13.2539.552

11.235

9.06010.1879.922

15.1052.0731.8211.811

15.8895.2104.032

n.a,n.a.n.a.n.a.n.a.n.a.

n.a.

10.020

7.11415.6736.664

10.253

10.69411.3518.410

11.071

11.5626.908

16.74612.548

n.a.7.027

-2.225

n.a.n.a.

-7.902

11.318

4.7584.0564.6651.3977.1144.280

15.8153.599

15.06815.14615.064

9.579

1956-66

5.7046.0776.073

n.a.5.2987.2684.6292.7849.1505.0254.900

5.9895.9195.913

9.26610.2618.1328.290

12.7307.4819.0186.7042.264

16.8048.472

12.311

6.8316.8827.0524.085

11.3603.2532.7848.2146.5613.591

-8.066-2.731

n.a.12970

n.a.n.a.

3.707

5.682

7.41013.4886.760

5.555

7.8257.9656.2628.328

5.1925.1025.2614.820

12.7685.9704.923

n.a.n.a.

6697

5.671

5.0634.1195.002

-2.0847.4107.761

14.4366.7996.8028.9946.699

5.550

1966-71

8.0818.2248.225

07.9394.8407.1154.246

13.9347.4238.385

7.105.537

-.113

6.02011.397

-2.1473.4561.3845.4622.3925.618

-3.1643.0358.6227.564

.047-.445

-1.21111.068

-28.7692.7734.2468.1046.6982.929

n.a.n.a.

13.30032.456

n.a.n.a.

4.275

6.754

10.56811.94010.359

6.420

6.4174.7277.9757.890

7.8648.4317.304

15.554

22.0629.3045.406

24.29024.319

n.a.

6.695

9.5419.0387.246

23.09310.5689.7099.3859.776

12.06424.18411.259

7.274

1971-76

9.5789.7059.707

n.a.9.4337.7159.3176.869

10.0449.8219.345

19.133-.937

-4.884

8.56611.875

-2.8047.0318.7908.9275.8406.072.471

4.17512.05225.482

9.88410.65810.22314.936

n.a.6.2776.869

10.3548.2167.226

n.a.n.a.

46.243-2.602

n.a.n.a.

34.232

11.986

11.28911.21111.302

12.054

11.08411.0418.052

12.251

-8.9607.973

n.a.7.867

14.1247.9064.412

4.4704.480

n.a.

11.809

10.86710.6487.912

21.84411.2899.4607.4939.844

14.04420.88213.330

11.608

1976-81

10.35911.29011.290

n.a.9.4379.608

12.0917.7698.5449.881

18.617

26.1924.600

-12.143

17.36620.480

-16.50012.42613.78415.2359.442

11.68011.5325.628

17.67133.069

7.2156.8506.377

10.637n.a.

5.0187.769

14.1889.002

16.895

n.a.n.a.n.a.

39.091n.a.n.a.

-25.986

7.603

12.69711.12112.938

7.066

11.96613.27312.60610.267

3.6623.674

n.a.3.335

12.49011.25510.314

n.a.n.a.n.a.

7.146

12.07711.7469.639

17.03812.69710.2398.152

10.60515.66915.87515.643

8.255

1946-81

7.3418.0428.041

n.a.6.7295.9967.6073.9879.5596.8889.184

12.7145.9702.672

9.79611.9171.3228.201

11.51910.3596.4958.6202.762

10.28210.58515.864

6.9457.2546.982

10.623n.a.

3.4483.987

11.4996.7725.946

n.a.n.a.n.a.n.a.n.a.n.a.

n.a.

8.226

9.06413.2148.750

8.138

9.4839.6348.2659.876

4.9456.288

n.a.8.696

n.a.7.7653.563

n.a.n.a.n.a.

8.487

7.4056.7776.2898.1489.0647.617

12.1667.254

12.15915.48711.907

8.179


January 1985


Table 1.—National Income and Product Account—Continued

Line

123

456789

1011121314151617181920212223242526272829

303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889

909192

93

ConsumptionHousehold expenditures for services and nondurables

Gross expenditures included from BEA personal consumption expendi-tures.

Less: Personal consumption expenditures expenses related to workExpense account items of consumptionBEA imputations other than housingSubsidies allocated to consumption

Subsidies included in business incomeLess' Amount allocated to investment

TransfersFrom business

Media supportTotal media support

Health and safetyFrom nonprofit institutionsFrom government enterprisesFrom government

Nonmarket services produced in householdsNet space rent of owner-occupied nonfarm dwellingsOther capital services

DurablesTotal durablesLess' Durables allocated to investmentLess: Services of durables to expenses related to work

SemidurablesInventories

Labor servicesLess: Labor services allocated to investment

Gross domestic capital accumulation . .Original cost

TangibleStructures and equipment and household durables and semidurables

BusinessNonresidential

StructuresEquipment

Residential other than owner-occupied nonfarm dwellingsNonprofit institutions

StructuresEquipment

Government enterprisesStructuresEquipment

GovernmentStructuresEquipmentProduct accumulated

HouseholdsOwner-occupied nonfarm dwellingsDurablesSemidurables

Fixed gross private domestic investment reconciliationNIPA fixed gross private domestic investmentLess: Corresponding sector totals

Government capital accumulation reconciliationNIPA government investmentLess: Government and government enterprise totals

Change in inventoriesBusinessGovernmentHouseholds

Intangible. . . .Research and development

BusinessNonprofit institutionsGovernment

Education ..Health

Subsidies and government enterprise transfers allocated to investmentNet revaluations

Land.BusinessNonprofitGovernment and government enterprisesHouseholds

Structures and equipmentBusinessNonprofit institutionsGovernmentHouseholds (owner-occupied dwellings)

Household durables and semidurablesDurablesSemidurables . ...

Inventories . .Business (including nonprofit)Government enterprisesGovernmentHouseholds

Net exports ..ExportsImports

Gross national product

Credits

Billions of dollars

1946

252.188.790.7

2.01.94.81.01.5.4

30.1.6.4.6.2.1

5.11.1

23.3125.5

5.629.010.311.6

.4

.918.7

.1107.016.1

31.1105.562.766.419.418.16.4

11.71.3.5.4

0.6.6

06.71.82.42.5

41.45.7

15.819.913

24.325.6-.84.04.8376.4

-10.2.1

42.71.6.8

0.8

35.65.5.9

-75.3-21.8-16.5

-.2-3.2-1.9289

-11.2.1

-11.761

-13.9-9.7

42-10.7

0.3

-10.7-.3

7.815.17.3

291.1

1956

437.6158.1162.3

4.34.04.8.5.8.3

37.41.71.31.9.5.3

9.91.7

24.1232.819.057.330.536.11.14.5

26.7.1

189.533.0

283.6254.6168.7162.942.038.714.224.53.32.32.0

.23.53.3

.222.99.5

10.62.8

82.718.137.926.73.9

66.362.45.7

29.323.65.84.71.0.1

85.88.43.3.1

5.065.911.61.3

27.721.711.6

.94.05.19.55.9

.47.745

-2.6-1.1-1.5-.8

.8

.2-1.7-.1

5.325.019.8

726.5

1966

742.0267.4275.7

8.46.37.42.44.01.6

72.63.63.04.0

.9

.618.92.2

47.9385.940.390.050.358.01.95.8

39.5.3

328.973.4

498.3483.4282.6271.977.671.521.949.5

6.25.04.5.5

5.65.2.4

38.319.013.16.2

129.320.768.040.68.3

111.6103.3

7.845.537.710.814.1

-3.6.3

200.721.87.2

.414.2

153.925.13.0

12.016.45.4.6

5.84.67.62.9.5.1

4.1-7.3-5.8

15-4.7

35-.3

90

6.544.638.1

1,246.8

1971

1,065.3378.4391.3

12.98.9

13.32.94.81.9

104.64.73.95.01.2.9

30.02.9

66.9557.258.9

133.777.588.93.28.2

55.9.3

500.2135.6

701.8709.9376.6370.2103.292.630.062.510.65.55.0.5

8.37.6

.744.922.814.57.6

190.037.497.255.412.6

158.8146.1

5.551.145.66.47.7

-1.3.1

333.426.710.7

.615.5

263.942.83.8

-12.09957

-1.5-2.0

721.93.3

.410.67.7

-20.5-18.8-1.7-3.5

25.2

1 1-.1

4.168.864.7

1,771.2

1976

1,693.0605.3626.5

21.213.926.63.45.62.2

161.18.06.78.51.81.3

47.93.0

102.2882.894.9

204.8123.9140.8

5.111.880.5

.4801.0218.0

1,360.41,107.8

576.2563.2167.5156.646.3

110.210.96.25.4.8

13.912.51.3

61.326.123.211.9

293.754.8

156.882.117.5

246.0228.5

3.166.363.213.011.8

.5

.6531.638.817.4

.920.5

418.474.44.2

248.4137.578.30

28.430.764.019.1

-2.343

51.5-11.3-8.4-2.958.361.1-.323-.2

13.8170.9157.1

3,067.2

1981

2,856.01,044.21,088.1

43.924.644.57.3

12.04.7

280.114.812.515.83.42.4

81.06.0

178.21,455.4

178.9332.3209.5237.0

8.918.6

122.0.8

1,265.0320.8

1,677.91,823.0

972.8953.8344.5322.9113.4209.521.610.38.61.7

22.320.12.2

102.732.643.426.7

444.382.5

236.1125.619.1

456.5437.310.6

108.998.319.018.5

.4

.1850.268.533.91.5

33.1640.1141.6

8.51537

-142.4-94.1-1.2294

-17.651.217.74 2

51.4-13.7

349255-9.4

-27.7-30.6

02.7

.2

26.3368.8342.5

4,560.1


1946-56

5.6705.9475.996

8.0147.828-.135

-6.424-5.405-3.323

2.19911.57212.53011.3518.8358.4106.8574.337

.3466.371

12.9507.045

11.50312.0029.670

17.2023.6307.4525.8827.434

24.7279.209

10.3999.3908.0367.9158.3577.6679.586

17.45717.53816.77318.51518.52518.35813.08918.18216.113

.8967.176

12.2309.1712.987

n.a.10.5759.332

n.a.22.06917.246

n.a.-3.019

n.a-.2967.219

17.99815.88910.48719.9516.3477.6273.790

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

12.361n.a.n.a.n.a.n.a.n.a.n.a.n.a.

-3.469n.a.n.a.

-3.8775.176

10.505

9.579

1956-66

5.4225.3955.440

6.9914.6294.518

16.51517.02517.8546.8598.1698.5957.9656.1786.2626.7372.2037.0875.1837.8284.6265.1334.8646.0172.5104.0047.1005.6688.331

5.7986.6225.2935.2526.3326.3174.4157.2956.5098.246 :8.2198.473 •4.8234.7406.0835.2847.1452.1198.5114.5671.3146.0214.2907.7705.3385.1673.2434.4944.7756.381

11.638n.a.

6.9338.869

10.0338.214

12.96911.0248.8538.0498.5718066

-2.731-7.322-4.592

3.779-1.125-2.168-6.884

2.239-35.360

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

2.1205.9356.773

5.550

1966-71

7.5027.1967.254

9.0477.115

12.4103.3163.4973.7707.5715.3814.8364.7274.3737.9759.6605.8666.9397.6277.8878.2339.0518.938

10.4317.3967.1853.6778.748

13.075

7.0877.9925.9076.3665.8575.3066.4964.762

11.5332.1222.4731 0998.3558.023

12.6433.2223.6962,0474.1618.014

12.6137.4226.3998.7707.3117.190

-6.6962.3683.893

-9.82711 530

n.a.-18.067

10.6794.1098.1047.8851.697

11.39311.3145.003n.a.n.a.n.a.n.a.n.a.n.a.

23.5632.603

-5.924155.01713.300


88199i080

11.205

7.274

1971-76

9.7079.8479.868

10.4639.317

14.8573.4503.2863.0389.025

10.94911.57311.0419.2198.0529.807

.5948.8379.638

10.0088.9029.8259.627

10.0837.5007.5845.9879.8729.951

14.1549.3078.8788.755

10.17011.0889.062

12.011.489

2.3011,289

10.87310.77510.39814.7506.3992.7239.9019.3649.0997.944

10.0308.1866.7839.1579.352

-11.0115.3276.739

15.1679.094

n.a.45.1729.7837.792

10.3548.8565.8309.660

11.6681.656n.a.n.a.n.a.n.a.n.a.n.a.

23.87942.083

n.a.n.a.

46.248n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

27.41819.95119.409

11.608

1976-81

11.02411.52311.675

15.69412.09110.78216.52416.30515.96911.69713.21013.32613.27313.07612.60611.06815.31211.75710.51713.51810.16011.08210.97011.6329.4698.665

12.3259.5718.037

4.28410.47611.04511.11315.51415.57419.59113.70414.64410.7709.962

15.51610.0009.940

10.55710.8814.606

13.27717.4208.6298.5298.5308.8831.741

13.15613.86428.00210.4519.2537.9129.311

-5.626249899.845

12.01214.18811.13010.0598.875

13.74615.414


-4.338-1.409

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

13.76716.63016.868

8.255

1946-81

7.1827.2987.357

9.2807.6076.5425.7656.2007.0376.5829.831

10.2479.6348.0678.2658.2334.8855.9837.252

10.3977.2179.0029.0019.0558.9685.5107.2727.3128.926

12.0668.4838.1477.9108.5678.5838.5698.5918.3279.3599.158

10.66210.70410.57112.3028.1138.6448.6406.9767.0197.9268.0425.408

n.a.8.7458.451

n.a.9.9109.002

n.a.3.081

n.a.201

8.91911.32411.49910.66911.1878.6069.7026.601

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

-5.537n.a.n.a.

3.5159.557

11.633

8.179


January 1985


Table 1.—National Income and Product Account—Continued

Line

123

45

6789

10111213

141516171819

2021

222324252627

28

Addenda (for acronyms, see notes below):GNP minus NRNNP minus NRNNI minus NR

GDCA minus NRNDCA minus NR

NDCANDCA at original costNDCA tangible, at original costNDCA, intangible, at original cost

GDCA— NR/GNP— NR percentNDCA— NR/NNP—NR, percentNDCA tangible at original cost/NNP — NR percentNDCA, intangible, at original cost/NNP— NR, percent

BEAGNPBEA NNPBEA NIBEAGPDIBEANPDI . . .BEA PCE

BEA GPDI/BEA GNP percentBEA NPDI/BEA NNP, percent

GNPCCACCA, tangibleCCA intangibleNNP.Business transfer payments + uncompensated factor services + net indirect

taxes + statistical discrepancy.NNI

Credits

Billions of dollars

1946

366.3273.1287.4

106.413.2

-62.012.311 123.4

29.04.8

-4.18.6

209.8195.8178.630.716.6

143.8

14.68.5

291.193.273.919.3

197.9-14.3

212.1

1956

698.8550.4535.3

255.9107.6

135.3106.258.847.4

36.619.510.78.6

421.7383.0349.471.032.3

266.0

16.88.4

726.5148.3109.938.4

578.215.2

563.0

1966

1,234.9991.8954.8

486.4243.3

255.3240.3118.0122.3

39.424.511.912.3

756.0695.3628.1125.765.0

465.1

16.69.4

1,246.8243.0164.678.5

1,003.837.1

966.7

1971

1,783.21,399.91,331.5

713.8330.5

318.4326.6122.9203.7

40.023.68.8

14.6

1,077.6981.1871.5166.469.9

672.2

15.47.1

1,771.2383.3253.7129.6

1,387.968.4

1,319.5

1976

2,818.82,176.72,082.6

1,112.0469.9

718.3465.7155.4310.3

39.421.67.1

14.3

1,718.01,543.01,379.2

257.982.8

1,084.3

15.05.4

3,067.2642.1420.8221.3

2,425.194.1

2,331.0

1981

4,713.83,578.43,433.2

1,831.6696.1

542.4687.5239.7447.9

38.919.56.7

12.5

2,954.12,624.62,373.0

474.9145.4

1,857.2

16.15.5

4,560.11,135.5

733.1402.3

3,424.7145.2

3,279.5


1946-56

6.6717.2586.416

9.17223.321

n.a.24.051

n.a.7.304

2.34514.975

n.a..043

7.2296.9386.9438.7666.8636.344

1.434-.070

9.5794.7584.0567.114

11.318n.a.

10.253

1956-66

5.8596.0655.957

6.6338.505

6.5548.5047.2149.933

.7312.3001.0833.647

6.0116.1466.0405.8747.2495.747

-.1291.040

5.5505.0634.1197.4105.6719.354

5.555

1966-71

7.6267.1356.879

7.9756.313

4.5216.329.808

10.750

.324-.767

-5.9063.374

7.3477.1296.7715.7751.4607.645

-1.465-5.292

7.2749.5419.038

10.5686.695

13.024

6.420

1971-76

9.5909.2309.358

9.2717.294

17.6677.3544.8098.780

-.291-1.772

4047-.412

9.7779.4799.6169.1543.455

10.033

-.568-5.502

11.60810.86710.64811.28911.8096.594

12.054

1976-81

10.83110.45310.514

10.4968.177

54638.1039.0537.614

-.303-2.061

1268-2.570

11.45011.20911.46412.99111.90711.364

1.383.628

8.25512.07711.74612.6977.1469.061

7.066

1946-81

7.5727.6277.344

8.47011.991

n.a.12.180

n.a.8.795

.8354.054

n.a.1.085

7.8497.6977.6718.1456.3917.583

.274-1.213

8.1797.4056.7779.0648.487

n.a.

8.138

NOTES.—BEA Bureau of Economic Analysis.CCA Capital consumption allowances.GDCA Gross domestic capital accumulation.GNP Gross national product.GPDI Gross private domestic investment.NDCA Net domestic capital accumulation.NI National income.NNI Net national income.NNP Net national product.NPDI Net private domestic investment.NR Net revaluations.PCE Personal consumption expenditures.


January 1985

January 1985 SURVEY OF CURRENT BUSINESS

Table 2.—Business Income and Product

39

Line'

1234567

89

101112131415161718192021

2223242526

27

28

29

30

31323334

353637

383940

41

4243444546474849

505152

53

54

555657

58

5960616263646566

67

Labor income- Compensation of employees . .

Additional imputations .Employee trainingExpense account items of consumptionLabor income of self-employed


Capital income and surplus

Proprietors' capital incomeProprietors' incomeLess' Labor income of self-employed

Opportunity cost of self-employed »Less' Underremuneration of labor

Net rental income of personsTotal rental incomeLess: Owner-occupied nonfarm rental income ,..

Net business investment in research and developmentGross investmentLess' Capital consumption allowance

Net revaluationsLandNonresidential structures and equipmentInventoriesResidential structures

Net surplus (8+22)

Income originating (1+27).

Less: Capital consumption on research and development transferred to business

Net income originating (28—29)

Business transfersMedia supportHealth and safetyOther

Net indirect business taxesIndirect bvpiness tew>8 , , , , , , , , , , , , „ , .Less' Intermediate product transferred from government to business

Statistical discrepancyBEA statistical discrepancy.TISA statistical discrepancy

Charges against net business product (30+31+35+38)

Capital consumption allowancesTangible

Original costRevaluations

IntangibleOriginal cost :

On hnsinpsH research and development- investmentOn research and development investment transferred from government

and nonprofit institutions.Revaluations

On business research and development investmentOn research and development investment transferred from government

and nonprofit institutions.

Charges against gross business product (41+42) ;

BEA gross domestic product business

Less: Net space rent of owner-occupied nonfarm dwellingsLess' BEA government enterprise productLess: Rental value of buildings owned and used by nonprofit institutions

BEA-type gross domestic product of TISA business sector

Subsidies included in business incomeExpense account items of consumptionLess' Expenses related to workBusiness investment in research and development ....Training produced hi business sector »Media support plus health and safety ;...Net revaluationsLess: Intermediate product from government ...

Gross business product

Debits

Billions of dollars

1946

130.090.941.24.01.9

35.32.2

22.0.6

15.91.4

36.735.343.17.83.75.51.8.4.8.4

-27.8165

-5.30

-5.9

-5.8

124.2

.2

123.9

1.4.6.3.5

-19.616.035.6

.5

.50

106.2

12.411.88.33.6

.6

.5

.3

.2

.1

.10

118.7

1956

238.1193.151.45.14.0

42.36.4

51.91.8

40.91.7

43.942.358.015.85.5

11.66.12.03.31.3

18.311.68.2.8

-2.3

70.2

308.3

1.2

307.1

3.91.9.7

1.4

3.131.628.4

-2.1-2.1

0

311.9

35.132.623.69.02.52.01.01.0

.5

.3

.2

347.1

1966

398.1333.1

74.913.06.3

55.69.9

107.810.780.94.9

60.555.672.316.77.8

18.710.93.57.23.7

4.85.42.0

-3.5.9

112.6

510.7

5.1

505.6

8.24.01.23.0

10.456.446.0

1.41.40

525.6

59.150.443.27.28.87.63.14.4

1.2.6.7

584.7

1971

554.6476.7

92.515.18.9

68.514.6

115.025.076.1

.969.468.586.618.19.1

20.211.23.9

10.76.7

-5.0-5.7

1.1-2.5

2.2

110.0

664.6

8.6

656.0

11.25.01.84.4

28.187.959.8

4.14.10

699.4

95.580.262.817.415.311.75.26.5

3.61.52.1

795.0

1976

873.9763.0134.124.813.995.523.2

183.643.1

123.8-1.494.195.5

126.130.612.823.510.75.2

17.412.2

158.578.34.0

61.115.0

342.0

1,216.0

13.7

1,202.3

19.08.52.67.9

54.4128.674.3

5.15.10

1,280.8

171.6145.795.250.525.916.78.28.6

9.24.05.1

1,452.4

1981

1,495.81,336.3

204.341.024.6

138.844.8

323.2134.1168.7

-18.6120.2138.8208.3

69.528.041.413.311.033.922.9

-107.0-94.1

21.0-30.6-3.2

216.2

1,712.1

21.2

1,690.9

33.515.84.7

12.9

98.0219.3121.3

-4.9-4.9

0

1,817.4

317.1273.0164.5108.544.125.013.611.4

19.09.39.8

2,134.5


1946-56

6.2417.8272.2272.4317.8281.811

11.470

8.98911.6379.9222.0731.8211.8113.0117.2734.0327.844

13.31317.74615.88913.490

n.a.n.a.n.a.n.a.n.a.

n.a.

9.521

18.072

9.497

10.69411.3518.410

11.071

n.a.7.0272225

n.a.n.a.

683.472

11.374

10.94310.66311.0629.691

15.51515.60013.74217.718

15.19912.73319.837

11.329

1956-66

5.2735.6003.8369.7374.6292.7844.409

7.57819.3517.052

11.3603.2532.7842.228

.5883.5914.8735.9195.7598.214

11.298

-12.5607322

-13.087n.a.n.a.

4.837

5.175

15.084

5.112

7.8257.9656.2628.328

12.7685.9704.923

n.a.n.a.

17.462

5.355

5.3434.4356.235

-2.29713.31714.28812.54215.741

8.8166.246

11.596

5.354

1966-71

6.8567.4364.3113.1227.1154.2468.192

1.29618.5471 211

-28.7692.7734.2463.6591.6022.9291.566.537

2.2478.104

12.691

n.a.n.a.

-11.444n.a.

20.124

-.459

5.411

11.067

5.348

6.4174.7277.9757.890

22.0629.3045.406

24.22924.319

n.a.

5.883

10.0709.7637.779

19.43811.7629.218

10.5938.195

23.74922.27624.915

6.337

1971-76

9.5239.8637.721

10.4159.3176.8699.659

9.81111.52010.223

n.a.6.2776.8697.811

11.1077.2263.040

-.9375.909

10.35412.651

n.a.n.a.

29.538n.a.

47.003

25.465

12.843

9.793

12.881

11.08411.0418.052

12.251

14.1247.9064.412

4.4804.480

n.a.

12.861

12.42412.6738.669

23.73011.0847.3609.4685.558

20.67121.41120.110

12.809

1976-81

11.34711.8618.780

10.57012.0917.769

14.070

11.97525.5026.377

n.a.5.0187.769

10.55417.79316.89511.9794.600

15.92114.18813.412

n.a.n.a.

39.212n.a.n.a.

-8.765

7.082

9.061

7.059

11.96613.27312.60610.267

12.49011.25510.314

n.a.n.a.

57.620

7.250

13.06713.38711.56416.53611.1958.362

10.7515.867

15.72118.14613.669

8.005

1946-81

7.2297.9824.6786.8567.6073.9879.044

7.98616.6876.982

n.a.3.4483.9874.6016.4435.9465.9545.9709.983

11.49912.615


n.a.

7.785

13.694

7.752

9.4839.6348.2659.876

n.a.7.7653.563

n.a.n.a.

7.879

8.451

9.6949.3798.923

10.23513.08712.05211.90112.243

15.33914.09017.270

8.607

Credits

183.8

5.62.5.5

175.2

1.51.92.2.8

4.0.9

-27.835.6

118.7

372.1

19.04.21.1

347.9

.84.06.43.35.12.5

18.328.4

347.1

652.6

40.310.12.2

600.1

4.06.39.97.2

13.05.24.8

46.0

584.7

907.1

58.716.43.7

828.2

4.88.9

14.610.715.16.850

59.8

795.0

1,447.3

94.728.06.0

1,318.5

5.613.923.217.424.811.1

158.574.3

1,452.4

2,509.0

178.643.411.2

2,275.7

12.024.644.833.941.020.6

1070121.3

2,134.5

7.311

12.9505.2418.671

7.103

-5.4057.828

11.47015.8892.431

10.495n.a.

-2.225

11.329

5.779

7.8289.1877.465

5.602

17.0254.6294.4098.2149.7377.543

-12.5604.923

5.354

6.806

7.82310.22911.619

6.655

3.4977.1158.1928.1043.1225.517

n.a.5.406

6.337

9.795

10.03611.2249.981

9.747

3.2869.3179.659

10.35410.41510.294

n.a.4.412

12.809

11.632

13.5299.185

13.268

11.533

16.30512.09114.07014.18810.57013.117

n.a.10.314

8.005

7.755

10.3938.4779.573

7.602

6.2007.6079.044

11.4996.8569.261

n.a.3.563

8.607


January 1985

40 SURVEY OF CURRENT BUSINESS

Table 3.—Nonprofit Income and Product

January 1985

Line

1234

56789

101112

13141516

17

18

19

20212223

242526

27282930313233343536

37

38

39

40

Labor incomeCompensation of employeesEmployee training ,-,,,,,,,,,,,, ,,,,, ,—, ,,,,,,r--r,-,--Less' ExDenses related to work

Capital incomeInterest paidNet imputed interest .... .

Gross imputed interestLandStructures and equipmentResidential .

Less' Interest Daid

Net revaluationsLand . ..Structures and equipmentResidential structures

Income originating (1+5+13)

Imputed value of volunteer services

Charges against net nonprofit product (17+18)

Capital consumption allowancesOriginal costRevaluations

Charges against gross nonprofit product (19+20)

ConsumptionConsumption in BEA personal consumption expendituresAdditional imputed consumption

Capital accumulationResearch and developmentEducation and training

Investment in BEA personal consumption expendituresAdditional imputed investment .Employee training

Health ,Investment in BEA personal consumption expendituresAdditional imputed investment

Net revaluations

Less! Intermediate product transferred from government

Less: Intermediate product purchased

Less: Expenses related to work. .

Gross nonprofit product

Debits

Billions of dollars

1946

2.42.4.1.1

.4

.1

.4

.4

.1

.2

.1

.1

.1-.2

.4-.3

2.7

2.1

4.8

.4

.2

.25.2

1956

6.36.5.1.3

1.1.1

1.01.1.3.6.2.1

1.3.9.4

0

8.7

4.2

12.9

1.0.6.4

13.8

1966

16.717.1

.4

.8

3.2.4

2.83.2.8

1.9.5.4

1.1.6

-.1.6

21.0

6.8

27.8

1.81.4.4

29.6

1971

30.130.8

.51.3

3.5.8

2.73.5

.72.3.5.8

1 1-1.5

.40

32.4

10.3

42.7

2.91.91.0

45.6

1976

49.050.3

.92.2

4.31.33.04.3

.83.0.5

1.3

230

-2.7.5

51.0

15.0

66.0

4.72.52.2

70.8

1981

86.289.21.34.3

6.32.63.66.31.14.6

.72.6

-5.4-1.2-3.5-.7

87.1

18.0

105.1

8.23.64.6

113.3


1946-56

10.24210.6862.302

15.827

10.1404.879

10.83610.14010.72512.6515.0674.879

n.a.n.a.

-1.445n.a.

12.468

6.908

10.314

9.1439.6148.505

10.228

1956-66

10.25010.11213.3328.662

11.38814.12311.08911.38812.34812.1117.735

14.123

-2.048-4.591

n.a.46.426

9.193

5.102

8.018

6.5529.421

.6217.922

1966-71

12.41412.4636.728

10.848

1.95418.304

-1.0711.954

-2.5194.287

-.74718.304

n.a.n.a.n.a.n.a.

9.108

8.431

8.943

10.0916.617

19.2469.015

1971-76

10.26610.2889.901

10.634

4.2669.1822.5364.2661.3365.5421.9179.182

n.a.n.a.n.a.n.a.

9.463

7.973

9.112

10.2025.754

17.0619.183

1976-81

11.97412.1488.718

14.656

7.88515.5703.8357.8856.4458.5725.749

15.570

n.a.n.a.n.a.n.a.

11.299

3.674

9.741

11.5677.236

15.7999.868

1946-81

10.80210.9248.003

12.120

8.11111.4706.9148.1117.2029.6534.607

11.470

n.a.n.a.n.a.n.a.

10.446

6.288

9.205

9.0228.2299.8229.191

Credits

5.12.92.2

2.802.01.2.7.1.8.5.3

-.1

.8

1.8

.1

5.2

9.95.94.0

7.7.1

4.32.81.4.1

2.01.4.6

1.3

.8

2.6

.3

13.8

18.911.47.6

15.8.4

9.36.22.7

.45.03.71.31.1

1.9

2.4

.8

29.6

30.019.710.3

23.4.6

14.210.13.6.5

9.77.81.91 1

2.9

3.6

1.3

45.6

47.934.014.0

38.1.9

21.716.14.7

.917.915.32.623

3.1

10.0

2.2

70.8

81.063.217.8

65.81.5

34.026.85.91.3

35.732.03.7

-5.4

6.2

23.0

4.3

113.3

6.8577.4016.099

10.82210.4907.8218.8906.4942.3029.512

11.3026.276

n.a.

.405

3.930

15.827

10.228

6.7376.7846.668

7.45812.9738.1118.4306.868

13.3329.688

10.3308.0392048

8.932

-.597

8.662

7.922

9.66011.5896.474

8.1357.8848.869

10.0856.1536.728

13.92315.8097.649

n.a.

9.103

7.784

10.848

9.015

9.80711.5416.168

10.2888.8568.7749.8805.2379.901

13.10114.5036.378

n.a.

1.285

22.988

10.634

9.183

11.06813.2184.993

11.51511.1319.463

10.7084.8298.718

14.79015.7977.849

n.a.

14.658

18.107

14.656

9.868

8.2339.2166.166

9.48810.6718.4239.3276.1328.003

11.43812.7447.212

n.a.

6.121

7.610

12.120

9.191

Table 4.—Government Enterprise Income and Product

Line

1234

5

678

9

10

11

12

1314

151617

18

19

20

21

Labor incomeCompensation of employeesEmployee trainingLess' Expenses related to work

Capital income

SurplusesBEA surplusSum of absolute values of negative surpluses

Net revaluations

Net surplus (6+9)

Charges against government enterprise product (1+5 + 10) .

Sales minus purchases of intermediate goods

TransfersCapital income + negative surplus + intermediate product from govern-

ment—indirect taxesConsumptionInvestment

Employee training ..,.,,,,, ,

Net revaluations...

Less: Intermediate product from government

Less: Expenses related to work . ..

Gross government enterprise product

Debits

Billions of dollars

1946

1.91.900

0

1.2.6.6

.3

1.5

3.4

1956

4.04.1.1.1

.3

2.0.1

1.9

.2

2.2

6.5

1966

8.58.5

.2

.3

.3

3.81.52.3

-.3

3.5

12.2

2.5

1.7

1.61.1.5

0

.3

1.0

0

3.4

4.2

2.8

2.71.71.0.1

.2

.6

.1

6.5

10.1

3.8

3.62.21.4.2

3

1.1

.3

12.2

1971

14.014.0

.3

.4

.1

5.32.33.0

.2

5.5

19.6

16.4

5.1

4.82.91.9.3

.2

1.8

.4

19.6

1976

23.223.1

.6

.6

.1

7.84.83.0

-.3

7.6

30.8

28.0

5.5

4.93.01.9.6

-.3

1.9

.6

30.8

1981

37.437.51.01.0

.2

12.15.86.3

0

12.1

49.8

43.4

10.9

9.96.03.91.0

0

3.5

1.0

49.8


1946-56

7.7937.8968.354

11.858

22.944

5.210-16.268

12.155

3469

4.019

6.610

Credits

5.241

5.550

5.4734.3377.7968.354

-3.469

-4.823

11.858

6.610

1956-66

7.7697.6729.6716.122

-.259

6.56131.025

1.750

n.a.

4.688

6.543

1966-71

10.57510.5828.8089.301

11.931

6.6988.7095.256

n.a.

9.386

9.916

1971-76

10.60910.46613.8558.336

15.317

8.21615.619

.483

n.a.

6.632

9.433

1976-81

10.09510.1639.653

12.246

32.044

9.0023.647

15.826

n.a.

9.820

10.090

1946-81

8.9078.8999.7539.378

5.768

6.7726.6376.900

-5.537

6.154

7.952

9.187

2.942

2.6502.2033.3769.671

n.a

6.287

6.122

6.542

10.229

6.219

6.0515.8666.3318.808

n.a

9.912

9.301

9.916

11.224

1.552

.434

.594

.19413.855

n.a

1.258

8.336

9.433

9.185

14.517

15.09515.31114.7639.653

n.a

13.413

12.246

10.090

8.477

5.538

5.3164.8856.1479.753

-5.537

3.724

9.378

7.952


January 1985


Table 5.—Government Income and Product

41

Line

1234

56789

10111213

14151617

18

192021

22

232425

26

27

282930313233343536373839

4041424344

45

46

47

48

49

50

51

Labor incomeCompensation of employees.Employee trainingLess: Expenses related to work

Capital incomeInterest paidNet imputed interest

Gross imputed interestLandStructures and equipmentInventoriesResearch and development

Less' Interest paid

Net revaluationsLandStructures and equipmentInventories


Uncompensated factor servicesDrafteesJurors

Charges against net government product (18+19)

Capital consumption allowancesOriginal costReval uati on s

Charges against gross government product (22+23)

Consumption (to households)

Capital accumulationTO business (research and development)To households

Education and trainingPublic schoolsRrnployee training

NonmilitarvHealth

To governmentResearch and developmentNatural resources

Intermediate productTo businessTo nonprofitTo government enterpriseTo households

Gross credits exclusive of change in inventories and net revaluations

Change in inventories

Less: Intermediate purchases from other sectors

Less: Expenses related to work

Gross government product exclusive of net revaluations

Net revaluations

Gross government product . .

Debits

Billions of dollars

1946

25.720.85.4.5

7.94.13.87.9.3

5.71.8.1

4.1

-25.5-3.2

-11.7-10.7

8.1

1.31.30

9.4

32.326.06.3

41.6

1956

42.336.67.21.5

13.25.28.0

13.21.88.92.2.3

5.2

10.04.07.7

-1.7

65.4

6.16.0.1

71.6

16.611.94.6

88.1

1966

85.576.511.72.7

30.88.5

22.330.86.1

20.82.71.28.5

5.05.8.1

-.9

121.3

10.210.1

.2

131.5

22.117.44.7

153.6

1971

137.9126.016.14.2

32.612.420.232.65.6

23.32.31.4

12.4

7.5-2.010.6

-1.1

177.9

14.714.3

.4

192.6

33.122910.2

225.7

1976

208.4194.620.26.4

43.523.120.443.58.4

31.12.31.7

23.1

21.828.4

-4.3-2.3

273.7

.60.6

274.3

52.130.222.0

326.4

1981

318.2299.330.311.4

69.453.915.569.414.249.13.82.2

53.9

24.7-29.4

51.42.7

412.3

.70

.7

412.9

91.343.248.1

504.3


1946-56

5.1215.8162.987

11.768

5.2602.3347.7675.260

17.7434.6292.090

13.2532.334

n.a.n.a.n.a.n.a.

23.313

16.64916.74612.562

22.554

-6.452-7.494-2.973

7.791

1956-66

7.2977.6594.9736.080

8.8645.130

10.7728.864

13.0178.8112.156

16.8045.130

-6.6673.779

-35.360n.a.

6.364

5.2535.2614.824

6.272

2.9313.854.133

5.713

1966-71

10.02210.4836.5309.004

1.1737.885

-1.9391.173

-1.4112.281

-3.2693.0357.885

8.226n.a.

155.017n.a.

7.963

7.4787.304

15.546

7.926

8.4095.643

16.781

7.996

1971-76

8.6209.0844.6828.657

5.93313.245

.1735.9338.2775.940.271

4.17513.245

23.894n.a.n.a.n.a.

8.996

-47.991n.a.

7.867

7.323

9.5125.641

16.643

7.655

1976-81

8.8268.9868.446

12.294

9.78818.426

-5.3279.788

11.0779.581

10.6035.627

18.426

2.599n.a.n.a.n.a.

8.539

3.338n.a.

3.338

8.529

11.8657.466

16.960

9.090

1946-81

7.4587.9175.0679.351

6.4137.6444.1056.413

11.1796.3532.229

10.2827.644

n.a.n.a.n.a.n.a.

11.902

-1.958n.a.

8.700

11.424

3.0181.4626.002

7.387

Credits

7.9

16.2.6

12.911.86.45.44.9

.41.12.8

.22.5

56.535.6

.81.0

19.1

80.6

-10.2

2.8

.5

67.1

-25.5

41.6

9.5

31.03.9

23.321.013.87.26.4.8

2.33.91.12.8

51.728.4

.8

.621.8

92.2

1.0

13.5

1.5

78.1

10.0

88.1

27.8

77.910.957.552.440.711.79.72.05.19.53.36.2

86.046.01.91.1

37.0

191.6

-3.6

36.7

2.7

148.6

5.0

153.6

45.2

121.611.198.589.173.116.113.13.09.4

12.04.47.6

114.759.82.91.8

50.2

281.5

-1.3

57.7

4.2

218.3

7.5

225.7

79.7

191.114.7

158.7142.0121.820.214.85.4

16.717.85.9

11.9

140.874.33.11.9

61.5

411.7

.5

101.2

6.4

304.6

21.8

326.4

129.5

314.924.9

255.1225.2194.930.321.98.4

30.034.98.2

26.7

233.6121.3

6.23.5

102.5

678.0

.4

187.5

11.4

479.5

24.7

504.3

1.903

6.71221.1096.1015.9898.0272.9872.6456.3467.2183.480

16.727.896

-.892-2.225

.406-4.824

1.322

1.356

n.a.

17.173

11.768

1.532

n.a.

7.791

11.332

9.64210.9339.4549.554

11.3944.9734.2539.6078.4829.401

11.3308.511

5.2234.9238.9326.2885.416

7.592

n.a.

10.504

6.080

6.641

-6.667

5.713

10.229

9.317.267

11.38411.22512.4416.5306.0798.648

12.9684.7825.9144.161

5.9445.4069.1039.9116.305

7.997

n.a.

9.514

9.004

7.988

8.226

7.996

12.030

9.4625.8359.9979.761

10.7604.6822.532

12.45212.1468.1205.8199.364

4.1814.4121.2851.2584.161

7.895

n.a.

11.883

8.657

6.896

23.894

7.655

10.191

10.50311.1699.9659.6579.8538.4468.1569.228

12.46014.4157.060

17.420

10.65210.31414.65813.41310.751

10.494

-5.626

13.127

12.294

9.498

2.599

9.090

8.335

8.84711.4028.9068.802

10.2595.0674.3488.8739.8287.520

10.6156.976

4.1383.5636.1213.7244.914

6.275

n.a.

12.802

9.351

5.779

n.a.

7.387


January 1985


Table 7.—Constant-Dollar National Income and Product Account

Line

123456789

1011121314151617181920212223242526272829

303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889

90919293949596

97

Consumption .Household expenditures for services and nondurables

Gross expenditures included from BEA personal consumption expenditures ....Less: Personal consumption expenditures related to work

Expense account items of consumptionBEA imputations other than housingSubsidies allocated to consumption ...

Subsidies included in business incomeLess: Amount allocated to investment

TransfersFrom business ,,,„,,,,,„ , ,„ ,

Media supportTotal media supportLess: Media support allocated to investment

Health and safetyFrom nonprofit institutionsFrom government enterprisesFrom government

Nonmarket services produced in householdsNet space rent of owner-occupied nonfarm dwellingsOther capital services .

DurablesTotal durables . .Less' Durables allocated to investmentLess: Services of durables to expenses related to work


Labor servicesLess: Labor services allocated to investment

Gross domestic capital accumulationOriginal cost..

TangibleStructures and equipment and household durables and semidurables ,

BusinessNonresidential

Structures .. . :...Equipment

Residential other than owner-occupied nonfarm dwellingsNonprofit institutions

Structures.Equipment

Government enterprises .StructuresEquipment

GovernmentStructuresEquipment ,Product accumulated

HouseholdsOwner-occupied nonfarm dwellingsDurablesSemidurables

Fixed gross private domestic product reconciliationNIPA fixed gross private domestic productLess' Corresponding sector totals

Government capital accumulation reconciliationNIPA government investmentLess' Government and government enterprise totals

Change in inventoriesBusinessGovernmentHouseholds

IntangibleResearch and development

Business . ...Nonprofit institutionsGovernment

Education and trainingHealth . .

Subsidies and government enterprise transfers allocated to investmentNet revaluations

LandBusinessNonprofitGovernment and government enterprisesHouseholds

Structures and equipment . . .BusinessNonprofit institutionsGovernmentHouseholds (owner-occupied dwellings)

Household durables and semidurablesDurablesSemidurables

InventoriesBusiness (including nonprofit)Government enterprisesGovernmentHouseholds

Net exportsNet BEA exports

ExportsImports

Terms of trade effectNet exports in current dollars deflatedLess: Net exports in constant dollars without terms of trade effect

Gross national product

Credits


1946

667.6194.6199.5

4.93.9

10.82.63.61.0

96.81.3.9

1.3.5.4

17.22.4

75.8359.011.347.614.117.2

.82.3

33.4.1

339.139.0

77.9258.1135.1137.550.948.319.029.32.61.11.1.1

1.91.8.1

21.84.46.3

11.171.713.325.433.0

-6.758.765.4

-3.39.2

12.6-2.412.2

-14.8.3

123.04.51.7.1

2.799.419.12.1

-182.2-52.7

401-.5

-7.6-4.5699272

.3282

-14.8336

-23.5102

-26.00

.7258-.8

17.913.227.314.04.6

17.913.2

763.4

1956

765.6249.3255.2

6.05.69.2

.91.4.5

70.12.72.02.8.8.7

18.22.8

46.4430.526.376.838.646.41.56.3

38.0.2

381.954.5

439.0396.6243.2236.062.257.823.134.74.43.63.4.3

5.85.5.3

38.615.915.77.0

112.426.048.837.65.0

96.891.88.3

45.737.47.35.81.3.2

153.415.05.2.2

9.6114.923.41.9

40.531.616.91.35.97.5

13.88.6

.611.2

-6.6-3.8-1.6-2.1-1.2

1.2.3

-2.5-.1

8.410.135.325.2178.4

10.1

1,212.9

1966

993.6340.3350.310.07.8

10.63.35.42.1

102.84.73.85.01.2.9

26.62.7

68.7528.848.9

109.157.766.92.36.9

51.0.3

465.794.8

654.5634.9360.1347.2101.092.931.961.08.17.26.6.6

8.17.6

.453.527.716.29.6

157.827.878.451.610.2

146.2136.0

9.561.451.912.816.8

-4.3.3

274.830.49.4.5

20.5208.236.13.9

15.721.57.1

.87.76.0

10.03.8.7.1

5.4-9.6-7.6

20-6.2-4.6-.4

-1.20

8.56.5

54.447.92.08.56.5

1,656.6

1971

1,110.2394.7407.813.09.1

14.32.94.81.9

111.14.94.05.21.2.9

31.83.0

71.5578.061.0

136.878.389.83.28.3

58.2.3

520.9140.7

729.6738.2388.8382.0106.095.731.963.710.45.95.4.5

9.08.3

.746.924.214.87.9

194.940.198.256.713.8

165.8152.0

5.453.448.06.88.1

-1.4.1

349.428.211.1

.616.5

276.245.03.9

-12.5-10.4

60-1.5-2.1-.722.93.4

.411.08.0

214-19.6

18-3.7-2.6

.21 1-.1

4.31.6

71.069.32.74.31.6

1,844.1

1976

1,249.1443.2459.015.810.820.02.74.51.8

117.56.05.06.41.41.0

35.22.2

74.0655.078.0

169.7100.4113.7

4.48.8

68.9.3

571.0163.7

1,012.6831.0437.8429.2119.8112.031.180.97.84.74.0

.79.18.3.8

44.918.518.08.3

234.539.0

126.669.013.3

176.7163.4

2.848.545.78.67.8

.4

.4393.229.013.2

.715.1

310.453.93.2

178.598.756.30

20.422.145.913.7

-1.6-3.137.0

-8.1-6.0-2.141.943.9-.2

-1.7-.1

10.425.4

110.184.7

-15.010.425.4

2,272.2

1981

1,430.0500.1519.519.413.323.04.16.92.7

125.77.56.48.11.71.1

35.83.1

79.4763.9102.3215.3127.3141.5

6.08.2

87.7.4

609.7163.4

866.8936.1521.5512.8166.3156.744.7

112.09.65.24.01.29.98.81.2

48.714.320.813.6

264.534.9

141.288.412.7

219.1206.4

5.550.545.08.78.5

.2

.1414.634.017.3

.816.0

318.062.54.6

-73.9-68.4

452-.6

-14.1-8.524.68.5

-2.024.7

-6.6-16.8-12.3-4.5

-13.3-14.7

.01.3.1

13.543.0

159.7116.729613.543.0

2,310.4


1946-56

1.3792.5092.4941.8873.789

-1.6129732

-8.915-7.075-3.178

7.5648.8027.6635.2314.525.556

1.270-4.786

1.8328.8254.903

10.62710.4376.048

10.5541.2974.4781.1963.418

18.8744.3916.0565.5512.0161.8041.9461.7105.336

12.29611.89618.36911.91011.97610.7405.883

13.7819.549

-4.4864.5956.8946.7551.319

n.a.5.1253.447

n.a.17.35011.529

n.a.-7.123

n.a.-3.064

2.23512.73811.8106.599

13.4531.4672.077

-1.227n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

6.817n.a.n.a.n.a.n.a.n.a.n.a.n.a.

8232n.a.n.a.

7.261-2.665

2.6106.012

n.a.-7.261-2.665

4.739

1956-66

2.6423.1613.2165.3273.3431.512

13.52314.40415.9443.9045.9116.7546.1374.3852.8633.845

-.0674.0012.0796.3983.5634.0893.7214.566.916

2.9935.0532.0045.688

4.0764.8184.0013.9394.9684.8703.3025.8076.1737.0527.0137.4803.3963.3534.1623.3015.694.312

3.1493.455

.6974.8573.2117.3144.2084.0111.3373.0043.3445.849

11.209n.a.

4.9106.0067.3156.061

10.7297.8726.1254.4327.844

-9.052-3.774-8.316-5.615

2.6662186

-3.217-7.883

1.142-36.053

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

.089-4.351

4.4266.645

n.a..089

-4.351

3.167

1966-71

2.2443.0133.0865.4263.2546.0802626

-2.324-1.862

1.581.909.741.639.309

1.6463.6281.679.787

1.7934.5114.6396.2926.0857.3733.8292.666.029

2.2668.216

2.1963.0621.5471.927.980.584.023.872

5.146-3.830

3831-3.815

2.1361.6719.094

-2.568-2.650-1.749

37644.3167.5614.6071.8996.2602.5502.249

-10.7252771

-1.567-11.981-13.662

n.a.-20.903

4.921-1.490

3.3733.163

-4.2265.8104.483

-.081n.a.n.a.n.a.n.a.n.a.n.a.

18.089-1.94210091

143.7218.281


-12.80924 2355.4607.6665.699

12809-24.235

2.167

1971-76

2.3872.3422.3953.9463.4216.978

-1.4261433

-1.4441.1114.1234.8134.3112.592.963

2.0695615.699

2.5335.0594.4035.1174.8166.2491.1583.446

-1.9621.8533.080

6.7762.3962.4022.3572.4663.194

5344.877

-5.488-4.700-6.063

6.588.356.043

3.875-.883

-5.2054.0221.0143.769

-.5515.2054.021

6671.2841.453

-12.135-1.886-.9714.830

-.733n.a.

34.1832.389.521

3.4932.087

-1.7562.3613.656

-4.036n.a.n.a.n.a.n.a.n.a.n.a.

14.93531.825

n.a.n.a.

35.689n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

19.49773.5409.1764.071

n.a.19.49773.540

4.264

1976-81

2.7422.4462.5074.1834.1742.8119.0288.8988.7021.3584.3944.8394.7754.5381.984.323

6.5881.4033.1245.5714.8794.8524.4766.367

-1.4234.9272.7061.320

-.037

-3.0612.4123.5633.6236.7816.9557.5096.7394.1502.380.340

11.7501.6711.0876.9171.634

-5.0562.854

10.3442.430

-2.1932.2095.07710504.3864.783

14.397.806

-.315.352

1.805-14.634

316271.0663.2755.6152.7901.071.488

3.0357.556


11722-9.019

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

5.26511.1127.7356.634

n.a.5.265

11.112

.334

1946-81

2.2002.7342.7723.9883.5872.1911.3571.8702.887.749

5.1745.8975.3083.7972.7592.106.667.130

2.1816.5014.4066.4946.2075.8843.6902.7962.8011.6904.182

7.1273.7503.9353.8333.4383.4202.4703.9083.7574.4473.8169.2234.8734.6787.0602.3213.4403.467.578

3.8002.7875.0252.857

n.a.3.8323.338

n.a.4.9783.714

n.a.-1.019

n.a.40173.5345.9326.8396.0465.1843.3803.4512.271

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

-9.801n.a.n.a.

-.8063.4305.1816.236

n.a.-.8063.430

3.215


January 1985


Table 6.—Household Income and Product

Line

1234567

89

1011121314151617181920212223242526

27282930313233

34

35

36

37383940414243

44

4546474849505152535455565758596061

62636465666768697071

72

73

74

75

L&bor incomeCompensation of employeesImputations

Employee trainingOpportunity costs of studentsUnpaid household work


Capital incomeOwner-occupied housing

Interest paidNet imputed interest . .

Gross imputed interestLandOwner-occupied dwellings

Less' Interest paidNet rental income

Rental income on nonfarm own-occupied dwellings and landLess' Net imputed interest . . .

Consumer goodsConsumer interestNet imputed interest

Gross imputed interest 1 .DurablesSemidurablesInventories

Less: Consumer interest

Net revaluationsLand .Owner-occupied dwellingsConsumer goods ... .

DurablesSemidurablesInventories


Less: Intangible (human) capital consumption

Net income originating and charges against net household product (34—35)

Capital consumption allowancesTangible (nonhuman)

Original costRevaluations . . . . . .

Intangible (human)Original costReval u ations

Charges against gross household product (36+37)

ConsumptionMarket (labor services in households)Nonmarket

Net space rent on owner-occupied nonfarm dwellingsBEA net space rent on owner-occupied nonfarm dwellingsSubsidies..*. .*.

Capital services other than on owner-occupied dwellingsDurables

GrossLess: Services allocated to investmentLess: Services to expenses related to work


Labor servicesTotal imputed labor servicesLess: Labor services allocated to investment

Intermediate product of government to consumption

Capital accumulationIntangible at original cost

EducationTe»ehing children in home T . T T t T I t T t l t I t

Opportunity cost of studentsDurable services allocated to educationIntermediate product of government to education

HealthEmployee training , ,,,.,,,,,

Net revaluations

Services to expenses related to work

Less: Intermediate product transferred from government


Gross household product

Debits

Billions of dollars

1946

109.02.1

107.0

1L695.3

.1

5.12.71.01.62.6

.42.21.0.1

1.81.62.4

.71.72.41.5.8.1.7

-22.219

-6.1142

-9.742-.3

91.9

18.6

73.3

48.029.424.05.4

18.615.23.4

121.3

1956

192.43.3

189.5.1

25.4164.1

.4

17.610.34.25.69.91.58.44.2.5

6.15.67.35.12.27.35.71.4.1

5.1

-2.15.1

-4.527

-1.115-.1

208.0

35.5

172.5

95.359.856.13.6

35.521.713.8

267.8

1966

332.44.0

328.9.1

60.9267.9

.5

36.822.912.010.022.04.8

17.212.0

.910.910.013.912.02.0

13.911.12.6.3

12.0

1.44.64.1

-7.3-5.8-1.5

0

370.7

68.3

302.3

158.790.388.32.1

68.341.926.4

461.0

1971

504.24.6

500.2.1

116.9383.3

.6

48.129.918.710.028.66.2

22.518.71.2

11.210.018.317.7

.518.314.93.1

.317.7

-13.67

7.7206

-18.817-.1

538.7

111.9

426.8

249.3137.4125.511.9

111.966.845.1

676.1

1976

805.65.4

801.0.1

188.6612.3

.7

71.847.336.67.8

44.49.9

34.536.62.9

10.77.8

24.526.7

-2.224.520.33.8

.426.7

70.830.751.5115

-8.429-.2

948.2

191.1

757.1

409.3218.2184.134.1

191.1106.8

84.3

1,166.4

1981

1,271.17.0

1,265.0.1

284.2980.7

1.0

143.1100.5

87.24.1

91.221.170.187.29.3

13.34.1

42.654.3

-11.642.635.76.1

.854.3

-66.0-17.6-13.7

347-25.5-9.4

.2

1,348.1

351.1

997.0

711.7360.6282.9

77.7351.1176.8174.3

1,708.7


1946-56

5.8464.4165.882

-3.6248.1035.585

13.186

13.17714.26915.83113.33614.33315.22914.18115.83113.04113.31313.33611.79921.4862.774

11.79914.0356.0457.456

21.486

n.a.n.a.n.a.n.a.n.a.n.a.n.a.

8.506

6.664

8.932

7.1017.3708.88638526.6643.599

15.064

8.240

1956-66

5.6192.1015.6685.2039.1505.0253.426

7.6528.271

11.0265.9138.371

12.4447.481

11.0265.9895.9195.9136.7128.92110886.7126.7986.3067.0988.921

n.a.1 125


5.948

6.760

5.774

5.2284.2134.62855006.7606.7996.699

5.582

1966-71

8.6882.5128.748

-2.72513.9347.4233.833

5.4955.4429.207

-.1135.3755.0625.4629.2077.106

.537-.1135.5818.196

233465.5816.0383.7123.6778.196

n.a.n.a.

13.300n.a.n.a.n.a.n.a.

7.764

10.359

7.141

9.4598.7587.299

41.93510.3599.776

11.259

7.961

1971-76

9.8263.3189.8722.802

10.0449.8213.568

8.3419.641

14.423-4.884

9.1609.9968.927

14.42319.133-.937

-4.8846.0708.503

n.a.6.0706.4094.3735.9868.503

n.a.n.a.

46.248n.a.n.a.n.a.n.a.

11.973

11.302

12.146

10.4219.6847.957

23.41311.3029.844

13.330

11.522

1976-81

9.5485.6149.5712.4578.5449.8817.608

14.78716.26918.923

-12.14315.48916.35915.23518.92326.1924.600

-12.14311.69115.252

n.a.11.69112.0009.901

12.32215.252


7.291

12.938

5.659

11.70010.5688.973

17.89112.93810.60515.643

7.935

1946-81

7.2693.4897.312

.7449.5596.8886.809

9.99010.85713.7082.672

10.71812.33510.35913.70812.7155.9702.6728.589

13.113n.a.

8.5899.3916.0837.272

13.113


7.974

8.750

7.743

8.0097.4297.3077.9188.7507.254

11.907

7.851

Credits

143.12.1

125.55.65.60

29.010.311.6

.4

.918.7

.190.9

107.016.115.5

-3.518.717.53.5

11.6.3

2.01.2.1

-22.2

.9

19.1

.1

121.3

250.73.3

232.819.019.00

57.330.536.11.14.5

26.7.1

156.6189.5

33.014.6

34.736.834.86.1

25.4.8

2.61.9.1

-2.1

4.5

21.8

.4

267.8

410.04.0

385.940.340.30

90.050.358.01.95.8

39.5.3

255.5328.9

73.420.1

82.781.378.010.060.91.35.73.2.1

1.4

5.8

37.0

.5

461.0

583.54.6

557.258.958.7

.2133.7

77.588.93.28.2

55.9.3

364.6500.2135.6

21.8

135.1148.8143.815.1

116.92.29.64.9.1

-13.6

8.2

50.2

.6

676.1

910.65.4

882.894.994.7

.2204.8123.9140.8

5.111.880.5

.4583.0801.0218.0

22.5

306.2235.4227.4

23.3188.6

3.511.97.9.1

70.8

11.8

61.5

.7

1,166.4

1,511.17.0

1,455.4178.9178.6

.2332.3209.5237.0

8.918.6

122.0.8

944.31,265.0

320.848.7

282.5348.6335.5

26.8284.2

6.318.213.0

.1-66.0

18.6

102.5

1.0

1,708.7

5.7684.4166.371

12.95012.950

n.a.7.045

11.50312.0029.670

17.2023.6307.4565.5855.8827.434

-.538

n.a.6.9947.1405.6258.103

11.2612.4305.217

-4.075n.a.

17.202

1.322

13.186

8.240

5.0412.1015.1837.8287.828

n.a.4.6265.1334.8646.0172.5104.0047.0985.0215.6688.3313.218

9.0618.2518.4015.1129.1505.8648.2385.2875.191

n.a.

2.510

5.416

3.426

5.582

7.3152.5127.6277.8877.823

n.a.8.2339.0518.938

10.4317.3967.1853.6777.3698.748

13.0751.598

10.32012.84513.0258.541

13.93410.82710.8658.531

-2.867n.a.

7.396

6.305

3.833

7.961

9.3083.3189.638

10.00810.036

-1.4118.9029.8259.627

10.0837.5007.5845.9869.8439.8729.951

.670

17.7739.6189.6009.096

10.0449.8494.419

10.2542.488

n.a.

7.500

4.161

3.568

11.522

10.6615.614

10.51713.51813.5296.469

10.16011.08210.97011.6329.4698.665

12.32210.123

9.5718.037

16.698

1.5988.1638.0842.8168.544

12.1788.753

10.3912.493

n.a.

9.469

10.751

7.608

7.935

6.9663.4897.252

10.39710.393

n.a.7.2179.0029.0019.0558.9685.5107.2726.9167.3128.9263.333

n.a.8.7158.8115.9719.5599.5596.4367.145

.546n.a.

8.968

4.914

6.809

7.851


January 1985


Table 7.—Constant-Dollar National Income and Product Account—Continued

Line

123

45

6789

10111213

141516171819

2021

222324252627

28

Addenda (for acronyms, see notes below):GNP minus NRNNP minus NRNNT minus NR

GDCA minus NRNDCA minus NR . .

NDCANDCA at original costNDCA tangible original costNDCA, intangible, at original cost

GDCA— NR/GNP— NR, percentNDCA— NR/NNP— NR percentNDCA, tangible, at original cost/NNP— NR, percentNDCA, intangible at original cost/NNP — NR percent

BEA GNPBEA NNPBEA NIBEA GPDIBEA NPDI..BEA PCE

BEA GPDI/BEA GNP percentBEA NPDI/BEA NNP, percent . .

GNPCCACCA, tangibleCCA intangibleNNPBusiness transfer payments + uncompensated factor services + net

indirect taxes + statistical discrepancy.NNI

Credits


1946

945.6714.1749.0

260.128.6

-153.626.5

-43.870.3

27.54.0

-6.19.8

478.3444.3402.1

70.936.9

301.0

14.88.3

763.4231.5178.952.7

531.8-34.9

566.7

1956

1,172.4945.9920.2

398.4172.0

212.5170.182.887.4

34.018.28.79.2

671.6615.1558.0102.646.1

405.4

15.37.5

1,212.9226.5160.566.0

986.525.8

960.7

1966

1,640.91,323.61,273.9

638.8321.5

337.2317.5146.6171.0

38.924.311.112.9

984.8906.2816.0163.084.3

585.7

16.69.3

1,656.6317.3213.5103.9

1,339.349.7

1,289.6

1971

1,856.61,457.71,388.8

742.1343.2

330.7339.3125.3214.0

40.023.58.6

14.7

1,122.41,022.2

911.8173.973.6

696.8

15.57.2

1,844.1398.9263.5135.4

1,445.168.9

1,376.3

1976

2,093.71.625.11,550.3

834.2365.5

544.0362.3137.0225.3

39.822.58.4

13.9

1,298.21,173.11,043.0

184.559.4

823.1

14.25.1

2,272.2468.7300.8167.9

1,803.574.8

1,728.8

1981

2,384.21,836.61,752.7

940.7393.1

319.2388.5174.6213.8

39.521.49.5

11.6

1,513.81,357.91,212.6

227.671.6

956.8

15.05.3

2,310.4547.7346.9200.8

1,762.783.8

1,678.9


1946-56

2.1732.8522.080

4.35519.641

n.a.20.425

n.a.2.201

2.13616.323

n.a.-.633

3.4533.3053.3293.7692.2383.021

.3051033

4,739-.22110792.2806.373

n.a.

5.420

1956-66

3.4193.4163.306

4.8346.455

4.7256.4395.8846.942

1.3682.9392.3873.409

3.9033.9513.8754.7366.2273.748

.8022.189

3.1673.4322.8954.6403.1056.788

2.988

1966-71

2.5011.9491.743

3.0441.316

3891.333

-3.0904.592

.530-.621

-4.9432.593

2.6492.4382.2441.30026743.535

-1.315-4.990

2.1674.6834.3005.4531.5336.736

1.310

1971-76

2.4332.1982.224

2.3661.267

10.4691.3221.8041.035

066-.911-.385

-1.137

2.9532.7932.7251.194

-4.2053.389

-1.709-6.808

4,2643.2752.6814.3914.5311.660

4.666

1976-81

2.6332.4772.485

2.4331.464

-10.1141.4034.9691038

-.194-.9882.432

-3.430

3.1212.9693.0604.2823.8133.054

1.126.819

.3343.1652.8963.639

4572.319

-.584

1946-81

2.6772.7362.459

3.7417.772

n.a.7.971

n.a.3.230

1.0364.902

n.a..481

3.3473.2443.2043.3881.9103.359

.0401292

3.2152.4901.9113.8973.483

n.a.

3.151

NOTES. — BEA Bureau of Economic Analysis.CCA Capital consumption allowances.GDCA Gross domestic capital accumulation.GNP Gross national product.GPDI Gross private domestic investment.NDCA Net domestic capital accumulation.NI National income.NNI Net national income.NNP Net national product.NPDI Net private domestic investment.NR Net revaluations.PCE Personal consumption expenditures.


January 1985


Table 8.—Constant-Dollar Business Income and Product

Line

1

234

5

6789

10111213

14

BEA gross domestic product, business

Less' Net space rent of owner-occupied nonfarm dwellingsLess: BEA government enterprise productLess: Rental value of buildings owned and used by nonprofit institu-

tions.

BEA-type gross domestic product of TISA business sector . ..

Subsidies included in business incomeExpense account items of consumptionLess: Expenses related to workBusiness investment in research and developmentTraining produced in business sectorMedia support plus health and safetyNet revaluationsLess' Intermediate product from government

Gross business product

Credits


1946

385.5

11.39.81.1

363.2

3.63.95.41.78.82.2

-67.2116.8

193.9

1956

557.4

26.311.41.7

518.0

1.45.69.05.27.74.1

26.752.2

507.5

1966

824.0

48.916.42.9

755.8

5.47.8

11.89.4

16.56.86.3

64.0

732.1

1971

938.6

60.817.93.8

856.0

4.89.1

14.811.115.77.1

-5.263.9

819.9

1976

1,095.4

77.921.14.7

991.7

4.510.817.313.218.58.4

113.855.9

1,087.7

1981

1,285.8

102.224.95.2

1,153.6

6.913.319.817.320.610.3

-51.457.2

1,093.5


1946-56

3.756

8.8251.4714.179

3.613

89153.7895.148

11.81013646.546

n.a.-7.744

10.101

1956-66

3.988

6.3983.7525.615

3.850

14.4043.3432.7866.0617.9605.188

-13.4982.065

3.732

1966-71

2.637

4.4481.7356.020

2.521

-2.3243.2544.5993.373

-1.028.900n.a.

-.033

2.291

1971-76

3.140

5.0863.2804.247

2.988

-1.4333.4213.1903.4933.3103.465

n.a.-2.655

5.815

1976-81

3.257

5.5813.360

, 1.883

3.070

8.8984.1732.7205.6152.1934.147

. n.a..458

.107

1946-81

3.502

6.4972.6844.526

3.357

1.8703.5873.7636.8392.4534.553

n.a.-2.022

5.067

Table 9.—Constant-Dollar Nonprofit Income and Product

Line

123

456789

10111213

14

15

16

17

ConsumptionConsumption in BEA personal consumption expendituresAdditional imputed consumption

Capital accumulationResearch and developmentEducation and training

Investment in BEA personal consumption expendituresAdditional imputed investmentEmployee training

Health.. . .Investment in BEA personal consumption expendituresAdditional imputed investment

Net revaluations


Less: Intermediate product purchased


Gross nonprofit product

Credits


1946

17.27.89.5

9.9.1

6.43.03.2

.23.61.71.9

2

2.5

2.3

.2

22.1

1956

18.210.18.1

14.3.2

7.94.82.9

.24.32.81.51.9

1.5

.7

.5

29.9

1966

26.615.411.2

22.3.5

12.98.44.0.5

7.55.42.11.4

2.6

0

.9

45.3

1971

31.820.811.0

24.6.6

15.010.63.8

.610.28.22.011

3.1

3.4

1.3

48.5

1976

35.225.210.0

27.0.7

15.311.43.2

.712.711.01.7

-1.7

2.3

6.4

1.6

51.8

1981

35.829.26.5

28.2.8

15.012.32.1

.715.013.91.1

-2.6

2.9

7.7

1.9

51.5


1946-56

0.5562.666

-1.538

3.8006.6012.1364.715-.801

-1.5711.7675.1332457

n.a

-5.261

-11.310

9.257

3.063

1956-66

3.8454.2633.300

4.55110.7275.0615.7173.320

11.5465.6836.6613.565

-3.099

5.965

-24.441

6.973

4.240

1966-71

3.6286.195

-.366

1.9393.1622.9444.6811 0242.4566.3618.7621 001n.a.

3.473

142.451

7.166

1.355

1971-76

2.0693.950

-1.912

1.8702.088.383

1.60737702.7924.5576.1233068

n.a.

-5.571

13.078

4.107

1.354

1976-81

0.3233.022

-8.184

.8572/787

-.3171.400

-7.998.485

3.3554.7418038n.a.

4.414

3.739

3.248

-.147

1946-81

2.1063.855

-1.058

3.0436.0462.4684.0651 1773.5404.1536.166

-1.485n.a.

.398

3.557

6.690

2.441

Table 10.—Constant-Dollar Government Enterprise Income and Product

Line

1

23

456

78

9

10

Sales minus purchases of intermediate goods

TransfersCapital income + negative surplus + intermediate product from

government — indirect taxes.Consumption 'Investment

Employee training

Net revaluationsLess: Intermediate product from government


Gross government enterprise product .

Credits


1946

9.8

3.73.5

2.41.1.1

.73.2

.1

10.8

1956

11.4

4.34.1

2.81.4.2

.31.1

.2

14.7

1966

16.4

4.94.6

2.71.8.3

.41.5

.3

19.1

1971

17.9

5.35.0

3.02.0

.4

.21.9

.4

21.2

1976

21.1

4.13.6

2.21.4.5

-.21.4

.4

23.1

1981

24.9

5.45.0

3.11.9.5

01.7

.5

28.2


1946-56

1.471

1.6321.598

1.2702.2952.502

-8.232-10.195

5.460

3.081

1956-66

3.752

1.2881.015

-.0672.9156.492

n.a.3.393

4.456

2.669

1966-71

1.735

1.7771.741

1.6791.8332.290

n.a.4.239

5.603

2.118

1971-76

3.280

5.109-6.096

-5.615-6.827

5.683

n.a.5.597

2.000

1.757

1976-81

3.360

5.8306.413

6.6316.064

.799

n.a,3.193

1.080

4.045

1946-81

2.684

1.147.982

.6731.5723.800

-9.801-1.882

4.060

2.772


January 1985


Table 11.—Constant-Dollar Government Income and Product

Line

1

23456789

io111213

1415161718

19

20

21

22

23

24

25

Consumption (to households)

Capital accumulationTo business (research and development)To households

Education and trainingPublic schoolsEmployee training

Military.Nonmilitary

HealthTo government

Research and developmentNatural resources

Intermediate product . . . . . .To businessTo nonprofit .To government enterpriseTo household

Gross credits exclusive of change in inventories and net revaluations

Change in inventories

Less: Intermediate purchases from other sectors


Gross government product exclusive of net revaluations

Net revaluations

Gross government product

Credits


1946

21.7

57.31.9

43.440.222.417.816.41.43.2

11.9.8

11.1

185.1116.8

2.53.2

62.5

264.1

148

8.0

1.3

240.0

-61.7

178.3

1956

16.5

62.37.5

45.741.227.513.712.11.54.59.22.17.0

95.052.21.51.1

40.2

173.8

1.3

21.1

2.1

151.8

14.6

166.4

1966

37.4

113.815.883.776.459.616.813.92.97.3

14.34.79.6

120.164.02.61.5

51.9

271.3

4.3

47.4

3.3

216.3

6.6

222.8

1971

47.0

128.911.8

104.494.577.217.314.13.29.9

12.74.87.9

122.763.93.11.9

53.8

298.6

-1.4

60.0

4.3

233.0

7.8

240.8

1976

58.8

139.110.7

115.7103.188.115.011.13.9

12.612.74.48.3

105.855.92.31.4

46.2

303.7

.4

70.3

4.8

229.0

15.6

244.6

1981

60.3

151.612.0

122.1108.393.714.610.64.0

13.817.64.0

13.6

110.557.22.91.7

48.7

322.4

.2

80.0

5.0

237.5

11.9

249.4


1946-56

-2.709

.84514.540

.503

.2402.082

-2.618-2.950

.5743.349

-2.59410.3644486

-6.453-7.744

5261-10.195-4.310

-4.098

n.a.

10.211

5.428

4.479

n.a.

-.688

1956-66

8.540

6.2067.7616.2436.3718.0322.0701.3736.4735.0074.5538.2553.149

2.3742.0655.9653.3932.583

4.554

n.a.

8.419

4.430

3.604

-7.666

2.964

1966-71

4.720

2.516-5,698

4.5214.3395.295.619.284

2.1886.349

-2.410.129

3764

.428-.0333.4734.240.703

1.939

n.a.

4.813

5.384

1.499

3.427

1.558

1971-76

4.559

1.549-1.809

2.0741.7702.681

-2.754-4.682

4.3274.794.056

-1.6251.014

-2.923-2.655-5.571-5.596-3.008

.341

n.a.

3.234

2.247

.343

14.949

.320

1976-81

0.518

1.7332.2121.076.978

1.237-.593

QftA— .J7DD.428

1.8616.716

-1.96910.344

.869

.4584.4143.1931.094

1.202

-14.634

2.619

1.120

.732

5320

.387

1946-81

2.970

2.8205.3672.9962.8704.171

-.567-1.241

2.9744.2361.1154.690

.578

- 1.464-2.022

.398-1.882-.709

.572

n.a.

6.804

4.055

-.030

n.a.

.964

Table 12.—Constant-Dollar Household Income and Product

Line

123456789

1011121314151617

18192021222324252627

28

29

30

31

ConsumptionMarket (labor services in households)Nonmarket

Net space rent on owner-occupied nonfarm dwellingsBEA net space rent on owner-occupied nonfarm dwellingsSubsidies

Capital services other than on owner-occupied dwellingsDurables

GrossLess: Services allocated to investmentLess' Services to expenses related to work


Labor servicesTotal imputed labor services . . . . . .Less: Labor services allocated to investment

Capital accumulation .Intangible at original cost

EducationTeaching children in homeOpportunity cost of studentsDurable services allocated to eduction

HealthEmployee training

Net revaluations

Services to expenses related to work



Gross household product

Credits


1946

419.05.8

359.011.311.30

47.614.117.2

.82.3

33.4.1

300.1339.1

39.054.2

-6.847.043.111.624.4

.55.63.6

.2-53.7

2.3

62.5

.3

351.8

1956

467.36.9

430.526.326.30

76.838.646.41.56.3

38.0.2

327.4381.9

54.530.0

58.161.157.112.738.7

.94.33.9.1

-3.0

6.3

40.2

.5

491.0

1966

566.15.9

528.848.948.90

109.057.766.92.36.9

51.0.3

370.9465.7

94.831.4

107.3105.5100.8

14.576.71.57.64.6.1

1.8

6.9

51.9

.6

627.9

1971

607.24.8

578.061.060.8

.2136.878.389.83.28.3

58.2.3

380.2520.9140.724.4

140.4154.6149.415.7

121.12.3

10.35.1.1

-14.2

8.3

53.8

.6

701.5

1976

674.03.7

655.078.077.9

.1169.7100.4113.7

4.48.8

68.9.3

407.3571.0163.715.2

228.2177.4171.616.3

143.23.19.15.7.1

50.8

8.8

46.2

.5

864.3

1981

786.13.1

763.9102.3102.2

.1215.3127.3141.5

6.08.2

87.7.4

446.2609.7163.419.0

146.6178.3171.912.7

146.14.58.56.4.1

-31.7

8.2

48.7

.5

891.7


1946-56

1.0981.6901.8328.8258.825n.a.

4.90310.62710.4376.048

10.5541.2974.481.873

1.1963.4185745

n.a.2.6612.849.912

4.7346.7832735.614

-7.677n.a.

10.554

4310

6.766

3.391

1956-66

1.93614902.0796.3986.398

n.a.3.5634.0893.7214.566.916

2.9935.0531.2562.0045.688

.462

6.3355.6195.8411.3447.0864.7305.9671.7783.341

n.a.

.916

2.583

1.818

2.489

1966-71

1.410-4.182

1.7934.5114.448

4.6396.2926.0857.3733.8292.666

.029

.4972.2668.2164876

5.5117.9428.1991.5959.5758.7686.2081.967

-6.713n.a.

3.829

.703

.384

2.243

1971-76

2.108-4.772

2.5335.0595.08658464.4035.1174.8166.2491.1583.446

-1.9641.3841.8533.0809027

10.2112.7892.809

.6953.4086.920

-2.4782.290

-3.909n.a.

1.158

-3.008

-2.542

4.262

1976-81

3.126-3.425

3.1245.5715.581

9854.8794.8524.4766.367

-1.4234.9272.7091.8451.320

-.0374.555

8471.110.034

-4.914.402

7.349-1.318

2.375-5.480

n.a.

-1.423

1.094

-3.099

.626

1946-81

1.814-1.742

2.1816.5016.497

n.a.4.4066.4946.2075.8843.6902.7962.8021.1401.6904.182

- 2944

n.a.3.8864.030

.2465.2536.5721.1831.628

-3.643n.a.

3.690

-.709

1.636

2.693


January 1985


Table 13.—Total Capital, Year-End Totals

47

Line

1

2345678

9101112

131415161718

19202122

2324252627282930

Total capital

BusinessTangible

LandStructures and equipmentResidentialInventories

Intangible (research and development)

NonprofitLapd , ---„Structures and equipmentResidential

GovernmentLandStructures and equipmentResidentialInventoriesIntangible (research and development)

Government enterpriseStructures and equipmentResidentialInventories

HouseholdTangible

LandResidentialDurablesSemidurablesInventories

Intangible (human capital) .

Billions of dollars

1945

1,195.8

331.1319.7115.290.163.351.111.4

11.82.75.04.0

243.821.9

161.12.1

58.72.1

17.515.21.11.3

589.5154.311.767.848.624.12.1

435.2

1955

2,411.2

724.8686.0197.4274.5104.3109.838.8

29.16.8

16.06.3

304.048.1

199.41.9

54.66.7

49.337.54.96.9

1,297.3454.337.8

223.1151.937.63.7

843.1

1965

4,454.7

1,238.71,104.3

355.6451.5126.7170.5134.4

60.916.135.89.0

494.1117.4323.6

4.0.49.122.8

83.367.79.06.7

2,554.9760.0101.8365.1233.154.25.8

1,795.0

1970

6,917.8

1,809.01,592.6

426.7744.8177.1244.0216.4

95.620.762.412.4

722.0156.5499.6

5.260.637.5

127.5109.714.43.5

4,126.21,151.2

153.7545.0368.375.98.2

2,975.0

1975

11,901.4

3,082.32,759.9

748.81,336.6

292.9381.5322.4

147.526.5

104.216.8

1,177.3273.9814.011.078.457.9

235.0208.524.81.8

7,201.31,958.1

276.3973.8585.0110.312.7

5,243.2

1981

23,746.4

6,085.95,528.91,465.12,668.4

557.7837.8557.0

248.241.7

180.825.7

2,220.4552.6

1,502.820.0

145.089.5

476.3421.845.29.3

14,626.03,949.7

615.12,078.81,052.7

179.623.4

10,676.3


1945-55

7.265

8.1517.9355.534

11.7885.1117.959

13.041

9.4479.517

12.2764.537

2.2328.1622.159

-1.173-.71812.157

10.8799.450

16.28518.460

8.20711.40412.47312.65412.0744.5475.8806.835

1955-65

6.331

5.5064.8766.0615.1011,9684.500

13.235

7.6709.0248.3593.715

4.9769.3334.9588.007

-1.06112.977

5.4016.0906.339

-.340

7.0125.281

10.3995.0464.3743.7204.5157.850

1965-70

9.201

7.8697.5993.716

10.5336.9277.4259.988

9.4405.197

11.7826.597

7.8825.9259.0775.3764.310

10.409

8.87810.1339.880

-12.196

10.0618.6618.5998.3459.5776.9857.192

10.633

1970-75

11.462

11.24711.62311.90412.40610.5839.3578.305

9.0685.103

10.7836.171

10.27411.83410.25616.2015.2719.109

13.00313.70911.507

-12.855

11.78211.20812.43812.3089.6967.7539.116

12.001

1975-81

12.202

12.00612.27711.83612.21211.33114.0079.538

9.0627.8059.6237.401

11.15512.41110.75810.48210.8087.513

12.49712.46310.56131.976

12.53412.40614.27313.47310.2878.462

10.68412.582

1945-81

8.656

8.4238.2407.3199.8706.2298.082

11.412

8.8337.867

10.4595.290

6.3299.3746.4006.4882.545

10.926

9.6059.673

10.9525.673

9.3309.425

11.6409.9768.9195.7376.9109.296

Table 14.—Constant-Dollar Total Capital, Year-End Totals

Line

1

2345678

9101112

131415161718

19202122

2324252627

2930

Total capital

BusinessTangible


Intagible (research and development)

NonprofitLandStructures and equipmentResidential

GovernmentLandStructures and equipmentResidentialInventoriesIntangible (research and development).. .

Government enterpriseStructures and equipmentResidential .Inventories

HouseholdTangible

LandResidentialDurablesSemidurablesInventories

Intangible (humaii capital)


1945

2,941.7

805.3786.1281.7249.3151.0104.219.2

32.56.7

16.29.6

595.253.7

450.25.2

86.12.8

51.046.22.62.3

1,454.8320.028.6

161.977.447.64.5

1,134.8

1955

3,989.2

1,109.91,056.0

319.4432.6151.2152.853.9

47.511.027.49.2

483.577.8

335.02.7

68.08.4

86.266.87.1

12.4

2,253.7633.661.2

325.3187.553.95.7

1.620.1

1965

5,997.0

1,622.41,460.7

470.6609.1 j174.9206.1161.7

87.621.353.812.5

680.8155.4461.3

5.858.426.9

119.398.712.48.2

3,460.0987.5134.7505.8268.371.27.5

2,472.4

1970

7.471.4

1,921.81,698.1

455.3791.9192.0258.9223.6

103.722.168.113.5

777.7167.0541.8

5.763.139.3

141.5121.815.64.1

4,487.51.219.0

164.0591.4372.981.98.8

3,268.4

1975

9,301.9

2,331.52,052.7

581.2957.5214.7299.2278.8

109.120.676.212.2

864.7212.6590.6

7.653.951.7

163.8144.618.11.2

5,781.11,520.5

214.4711.4487.697.89.3

4,260.6

1981

1,1487.8

2,893.12,496.6

731.11,188.0

228.9348.6396.5

111.720.880.510.4

961.2275.7621.7

7.156.768.9

194.3172.118.24.0

7,258.41,914.6

306.9842.4625.4129.310.5

5,343.9


1945-55

3.093

3.2602.9951.2635.668.019

3.90010.904

3.8595.0855.368

492

-2.0573.7842914

-6.207-2.33811.656

5.3893.756

10.68318.476

4.4747.0687.9217.2259.2551.2412.3223.625

1955-65

4.161

3.8693.2983.9533.4811.4663.038

11.606

6.3106.8576.9833.188

3.4827.1603.2527.733

-1.50512.375

3.2953.9825.797

-4.091

4.3804.5388.2044.5113.6512.8312.7654.318

1965-70

4.495

3.4453.058

-.6595.3901.8804.6706.707

3.441.760

4.8421.506

2.6951.4563.270

2021.5627.850

3.4774.3014.621

12805

5.3384.3024.0183.1796.8022.8353.2605.741

1970-75

4.480

3.9413.8655.0063.8692.2652.9384.510

1.01013762.2701.955

2.1454.9411.7405.906

-3.1045.630

2.9713.4892.957

21993

5.1974.5195.5083.7635.5113.6111.1005.445

1975-81

3.580

3.6633.3173.8963.6621.0712.5796.043

.401

.152

.916-2.655

1.7794.431.858

1068.831

4.912

2.8872.943.172

22.579

3.8663.9156.1602.8584.2364.7582.0723.848

1945-81

3.857

3.6163.2622.6844.4331.1633.4128.782

3.4873.2084.548.220

1.3404.651.900.883

-1.1569.322

3.7843.7215.5971.602

4.5665.0946.8184.6875.9772.8122.3624.398


January 1985


Table 15.—Year-End Implicit Price Deflators for Capital

Line

1

2345678

9101112

131415161718

19202122

2324252627282930

Total capital

BusinessTangible


Intangible (research and development)....

NonprofitLandStructures and EquipmentResidential

GovernmentLandStructures and equipmentResidentialInventoriesIntangible (research and development)

Government enterpriseStructures and equipmentResidentialInventories

HouseholdTangible .. .. ..

LandResidentialDurablesSemidurables '.Inventories . . .

Intangible (human capital)

Mid-1972 =100

1945

40.7

41.140.740.936.142.049.059.4

36.240.931.041.8

41.040.935.840.268.176.8

34.432.941.856.0

40.548.240.941.962.850.646.538.4

1955

60.4

65.365.061.863.568.971.971.9

61.261.858.568.5

62.961.859.567.880.380.3

57.156.168.555.9

57.671.761.868.681.169.865.552.0

1965

74.3

76.475.675.674.172.482.883.2

69.575.666.572.1

72.675.670.169.584.084.7

69.968.672.082.0

73.877.075.672.286.976.177.572.6

1970

92.6

94.193.893.794.192.294.296.7

92.193.791.792.0

92.893.792.291.296.095.3

90.190.092.185.0

91.994.493.792.298.892.793.591.0

1975

127.9

132.2134.5128.8139.6136.4127.5115.6

135.2128.8136.7137.0

136.1128.8137.8145.1145.3112.0

143.5144.2137.2147.8

124.6128.8128.8136.9120.0112.8136.9123.1

1981

206.7

210.4221.5200.4224.6243.6240.3140.5

222.2200.4224.6247.2

231.0200.4241.7281.5256.0129.8

245.1245.2248.0230.2

201.5206.3200.4246.8168.3138.9222.5199.8


1945-55

4.046

4.7364.7964.2185.7925.0913.9061.926

5.3814.2186.5565.054

4.3794.2185.2265.3671.659.448

5.2085.4885.061

-.014

3.5734.0494.2185.0642.5803.2663.4773.098

1955-65

2.083

1.5751.5282.0281.565.496

1.4191.460

1.2792.0281.287.511

1.4432.0281.652.254.451.535

2.0392.027

.5123.911

2.522.711

2.028.512.698.865

1.7033.386

1965-70

4.504

4.2764.4074.4044.8804.9542.6323.076

5.8004.4046.6195.016

5.0514.4045.6235.5892.7052.373

5.2195.5925.026.698

4.4834.1784.4045.0072.5984.0363.8084.627

1970-75

6.682

7.0297.4696.5698.2198.1346.2363.631

7.9786.5698.3248.288

7.9586.5698.3709.7228.6443.294

9.7439.8768.304

11.714

6.2606.3996.5698.2353.9673.9977.9286.218

1975-81

8.324

8.0488.6727.6418.248

10.15111.1403.296

8.6267.6418.628

10.330

9.2127.6419.817

11.6759.8952.479

9.3399.248

10.3717.667

8.3468.1707.641

10.3205.8053.5368.4378.411

1945-81

4.621

4.6394.8214.5145.2065.0074.5162.418

5.1664.5145.6535.059

4.9234.5145.4505.5563.7451.467

5.6095.7385.0714.006

4.5564.1214.5145.0522.7762.8454.4434.691


January 1985

total incomes system of accounts - st. louis fed · by robert eisner the total incomes system of...

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