National income accounts identity

National income accounts identity is the equation showing that GDP is the sum of consumption, investment, government purchases, and net exports. National saving]]. A nation's income minus consumption and government purchases; the sum of private and public saving. Natural rate of unemployment]]. The steady-state rate of unemployment; the rate of unemployment toward which the economy gravitates in the long run.

Definition

According to Macroeconomics by Mankiw (7th edition),

National income accounts identity. The equation showing that GDP is the sum of consumption, investment, government purchases, and net exports. National saving]]. A nation's income minus consumption and government purchases; the sum of private and public saving. Natural rate of unemployment]]. The steady-state rate of unemployment; the rate of unemployment toward which the economy gravitates in the long run.