This index distinguishes between changes in GNI, expressed in United States dollars, that are explained by real economic growth and those that are not.

Growth slowed in 1997 and real gross domestic product (GDP) declined by 1 per cent resulting in a 2 per cent drop in per capita income.

If the change in GNI, expressed in United States dollars, is due solely to real economic growth, the index would be 1.0.

Nominal income

Low and middle income families will benefit from a notable increase in disposable income.

These controls have helped to redistribute income because house rent accruing to the propertied class has been held in check, while the real incomes of tenants, who mostly fall into the lower income groups, have risen because rents have not been geared to general price increases.

Yet again, Africa apos s economic growth and its share of world trade had not kept pace with its population growth, with the result that real incomes had not improved.

As it stands, the United States and presumably the United Kingdom plans to begin tapering QE when the economy is growing faster, unemployment is lower, and government and household revenues are rising. But will tax revenues rise fast enough to offset the escalating cost of servicing the government s mountain of debt?

Now twelve years after independence and over the post independence decade, 1990 1999, real GDP increased by about 39 , from N 6 081 to N 8 453 million while real income per capita increased by about 4.8 , from N 4 520 to N 4 735.

Actual income as a percentage of estimated income

Growth of national p.c.i. at constant prices ( )

Actual compared to estimated income from contributions

By the end of 2004, domestic tax revenues were 37 per cent higher than in 2003 non tax revenues similarly increased by 21 per cent, excluding profit transfers from the Palestinian monetary fund.

52. Consequently, in order to achieve economic growth in the developing countries, their commodities must have access to international markets so as to bring about an increase in export earnings.

And our revenues are going to go this, that and the other thing.

So we're saying income growing at 16 times and no growth in carbon.

To improve and sustain the real income of individual developing countries through increased export earnings and to protect them from fluctuations in export earnings, especially from commodities

These changes do not directly induce economic growth, but they increase the economy s potential or long run income. Growth itself occurs as the economy begins to converge to this higher level of long run income.

Continuing the trend witnessed since 1992, population growth exceeded income growth, resulting in falling average incomes.

Other significant changes relate to income distribution, with average income rising and growing in the high end and the low end segments of the market.

Moreover, low inflation and periods of deflation did not prevent real incomes from rising in Japan. From 1999 to 2013, real per capita GDP rose at an annual rate of about 1 (which reflected a more modest rise of real GDP and an actual decline in population).

The Advisory Committee notes that actual income does show a modest increase from biennium to biennium.

Since the introduction of the Building Independence Strategy in 1998, low income families have seen their after tax disposable incomes increase.

We were having negative per capita growth.

This translates, from the year 2006, to an average annual growth of 4 percent in gross proceeds and net operating income.

For a number of years the Government apos s financial contribution had increased nominally but diminished in real terms.

In rural areas about 70 per cent of the population lives below the poverty line, and their situation has been aggravated by the fall in real incomes and the current increase in unemployment.

CONTRIBUTIONS TO PRODUCTIVE AND REPRODUCTIVE

With the traditional definition of money income, the CBO found that real median household income rose by just 15 from 1980 to 2010, similar to the Census Bureau s estimate. But when they expanded the definition of income to include benefits and subtracted taxes, they found that the median household s real income rose by 45 .

In effect, it emerges from the trends in the first half of the nineties that the dynamism of economic growth achieved in various countries of the region was not translated into a reduction in income concentration quot .See ECLAC, Social Panorama of Latin America, 1996.

Cheap imports from China and India may increase the real income of the urban poor.

But the growth strategies that lift a poor country to middle income levels cannot be counted upon to propel it to high income status. Indeed, there is no shortage of countries whose leaders have failed to recognize their strategies constraints and provide enough incentives to encourage the emergence of a new one, causing their economies to stagnate and leaving them stuck in the so called middle income trap.

The increase in cash balances in 2004 resulted largely from the growth in income and the late year receipt of funds.

Although government statisticians do their best to gauge the rise in real GDP through time, there are two problems that are very difficult to overcome in measuring real incomes increases in the quality of goods and services, and the introduction of new ones. I believe that both of these problems cause the official measure of real GDP growth to understate the true growth of the standard of living that real GDP is supposed to indicate.

Favourable external factors, including low dollar interest rates, the expansion of regional tourism and a sustained increase in worker remittances and other income transfers, resulted in healthy domestic demand growth, which drove the real GDP growth rate up to 4.9 per cent, the highest since 2000.

To compare median household incomes over time, the authorities divide these annual dollar values by the consumer price index to create annual real median household incomes. The resulting numbers imply that the cumulative increase from 1984 through 2013 was less than 10 , equivalent to less than 0.3 per year.

The role of women in decision making increased as their incomes increased.

Such relief would ease the balance of payments constraint and could induce increased private investment and growth.

It is not clear whether the measurement problem was bigger in the more distant past than it has been recently but it is irrelevant when we think about the future. Whether growth in per capita income that is officially estimated at 1.5 is in reality more like 3 , we are enjoying the higher level of real incomes inherited from the past.

Similarly, without dynamic, growth oriented economic policies supporting a healthy private sector capable of generating jobs, income and tax revenues over time, sustainable economic growth will not be achieved.

For the same period, total employment grew by 2.8 per cent and gross business receipts by 14.4 per cent.

This is equivalent to less than 5 of the additional income worldwide.

Annual GDP growth averaged 3.2 over this period and, unlike in the rich West, both inequality and unemployment have actually fallen, with growth mainly benefiting the middle three quintiles of the income distribution. This segment of the population usually politically crucial enjoyed a 28 rise in per capita real income from 2007 to 2014.

Even if the child earns 30 less than the median at that time, her income would still be higher than today s median income. And if product innovations and improvements imply that per capita real incomes grow at 3 a year, the median income of someone 30 years from now would be more than twice today s median income.

When the economic growth goes to eight percent and population growth drops to 1.5 percent, then per capita income is doubling every nine years.