Hello, I have a relatively basic question about the relationship between output, value added, labor income. and taxes. I have a client who wants to see the output impacts segmented by three other impact categories (i.e., value added, labor income, and taxes). I know that labor income is subset of value added and value added is subset of output. Is there a certain/standard formulae to represent this relationship? Output = ............ Can you verify the following formulas? Output = value added + value of intermediary goods and services. Value added = labor income + taxes + proprietary income Thanks!
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