C = Personal consumption expenditures
I = Gross private domestic investment
G = Government consumption expenditures
X = Gross exports of goods and services
M = Gross imports of goods and services
Total = Gross Domestic Product (GDP)
NR = + or - Net income from assets abroad (net income receipts)
Sub Total = Gross National Product (GNP)
CC = Depreciation
IBT = Indirect business taxes
NDP = Net Domestic Product
NI = National Income
PI = Personal Income
DI = Disposable income
Note: (X - M) is often written as "NX," which stands for "Net Exports"
GDP = C + I + G + (X - M)
GNP = C + I + G + (X - M) + NR
GNI = C + I + G + (X - M) + NR - IBT
NI = C + I + G + (X - M) + NR - IBT - CC
The Flow of Income
NDP = GNP - CC
NI = NDP - IBT + net foreign factor income
PI = NI - corporate taxes - retained earnings - social security + transfer payments + net interest
DI = PI - Personal taxes