Define GNP GDP and NNP
Answers
Explanation:
The normal formula is GNP = GDP + Income from Abroad. But it becomes GNP = GDP + (– Income from Abroad), i.e., GDP – Income from Abroad, in the case of India. This means that India's GNP is always lower than its GDP. NNP. Net National Product (NNP) of an economy is the GNP after deducting the loss due to 'depreciation'
Answer:
GNP - Gross National Product
GDP - Gross Domestic Product
NNP - Net National Product
What is GNP ?
Gross National Product (GNP) is the total value of all finished goods and services produced by a country's citizens in a given financial year, irrespective of their location.
What is GDP ?
Gross Domestic Product (GDP) is the final monetary value of the goods and services produced within the country during a specified period of time, normally a year.
What is NNP ?
Net national product refers to gross national product, i.e. the total market value of all final goods and services produced by the factors of production of a country or other polity during a given time period, minus depreciation.