| 单词 | income |
| 释义 | income 1) The amount an individual can spend in a period while leaving his or her capital unchanged. For an individual with neither assets nor debts, personal income can be defined as receipts from wages, or earned income, plus receipts from transfers, such as pensions. Taxable income is this minus any tax allowances. Net or disposable income is income after payment of direct taxes. Real income is money income deflated by a consumer price index, to find its purchasing power at constant prices. For an individual with assets or debts, income from rent, dividends and interest, or unearned income, has to be added to earned and transfer income. Interest paid out should logically be deducted, though actual tax systems tend to restrict such deductions. For individuals with real or financial assets, the distinction between receipts which are treated as income and those which are treated as capital gains tax is a highly technical and often arbitrary matter. For individuals with financial assets consisting of money or securities whose value is denominated in money terms, interest received should logically have losses in real purchasing power due to inflation deducted in measuring their real income. Tax systems, however, generally ignore this point and treat cash receipts as income. 2) The amount that can be spent consistently with being able to maintain the same level of spending in the future. This is defined as permanent income: it is exceedingly difficult to measure objectively, as it is a forward-looking concept. Permanent income is affected by expected levels of earned income, unearned income, and transfers from the state or other individuals due to be received over a whole lifetime of unknown length. This can only be estimated, and not measured. 3) The receipts of firms or public corporations from sales or payments of interest and dividends by other firms. These appear as the income side in income and expenditure accounts. Only any net profits in these accounts can be considered to be income in a sense comparable with individual incomes. 4) A macroeconomic aggregate, equal to the sum of individual earned and unearned incomes, the undistributed profits of companies, and property income accruing to the government. National income does not include transfer payments, which merely transfer part of the national income from one set of individuals to another. If transfers are large, personal incomes before taxation can exceed national income. National income is derived from gross domestic product (GDP) at factor cost by two main adjustments. First, capital consumption has to be subtracted; this is an estimate of the amount that would have to be spent on replacement investment to keep the nation's capital stock unchanged. Second, net property income from abroad has to be added, as national income refers to the income of residents, regardless of whether this arises from activities carried on domestically or abroad. The income approach is one of three methods used in national income accounting to measure aggregate economic activity: this approach works by adding the incomes of all sectors of the economy. The other approaches are the output method, looking at the outputs of various sectors, and the expenditure method, which adds the expenditures of various sectors of the economy. 5) The income effect of a change in price is the change in demand for a good whose price has altered which would have resulted if prices had stayed the same, but incomes had risen or fallen sufficiently to bring consumers to the same level of welfare as after the price change. 6) Income support is government payments to keep people's incomes up to some prescribed minimum level, in the event of illness, old age, disability or unemployment making them unable to earn it for themselves. Negative income tax is a system in which this is done through a combined tax and social security system, which collects tax if income is above a certain level and pays out if income is below it. 7) Income distribution is concerned with the shares of total income going to different groups. Functional income distribution looks at the shares of different types of income, for example wages and profits; personal income distribution looks at the shares of income going to people whose total incomes are of various sizes. See also: circular flow of incomes, disposable income, earned income, factor incomes, imputed income, permanent income, taxable income, and unearned income |
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