Gross annual earnings
In economics, Gross Annual Earnings is the amount of monetary wealth earned in a year by the working class of a specific categorical designation. Gross annual earnings per working capita is the term used to assign that numerical statistic to a specific individual among that designation. The way in which to calculate G.A.E. is a specific equation from which many other facts about that specific category can be deduced.
- Gross Annual Earnings = Gross Annual Earnings per Working Capita*Labor Force
- Gross Annual Earnings per Working Capita = Gross Annual Income/Labor Force
- Labor Force = Gross Annual Income/Gross Annual Income per Working Capita
G.A.E. is not to be confused with gross domestic product or gross national income which are both divided up between the entire population in that country where as GAE only considers the working class. While GDP and GNI are not accurate representations of annual salary GAE isn't either, because it doesn't incorporate the retirees, handicapped or unemployed individuals who still receive money from their governments depending on where they live. While figures still range considerably like with GDP and GNI it has a smaller range which makes more accurate in general. The 2014 study[which?] revealed that Luxembourg has the highest G.A.E.p.w.c in the world and Somalia has the lowest with a difference of up to $295,000, however when it comes to total G.A.E. the order is still the same to G.D.P., with USA, China and Japan being the top 3.[citation needed]
References[edit]
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