By Cadman Atta Mills
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Additional resources for Analytical approaches to stabilization and adjustment programs
Property income, such as interest, dividends, royalties, and land rent, accrues to one economic agent through the use of its assets financial, tangible assets such as land, and its intangible assets such as patents and copyrightsby another economic agent. We have Page 7 chosen not to isolate property incomes because they are paid out of the operating surpluses of enterprises and, by national income accounting convention, the operating surpluses of enterprises accrue to households. However, the letting of structures, equipment, machinery, and other goods is considered production of a service.
These methods are further distinguished as those measuring either inputs or outputs. Volume of inputs are generally expressed in terms of number of workers involved, number of hours, or quantities of goods consumed in the productive process. Volume of outputs are estimated in terms of goods and services produced. However, aggregation of estimates for macroeconomic policy can best be achieved by evaluations expressed in number of workers or work hours. At the micro level they illustrate the work effort in households and thus permit comparison.
Moreover, the purpose of evaluation varies between methods and surveys. It is therefore advisable to use a combination of methods for approximating the value of household work. As mentioned above, the United Nations has been considering expanding the national Page 31 accounts in which modified GNP will include some estimates of household activities. Endnotes 1. Current government expenditures (CEXPg) º Cg + NTRgp + INTgp + INTge. 2. (CEXPp) º Cp + Td + INTpe. 3.