Question

How do we have to adapt the measure of GNP to meet the requirements of sustainable development

Answer 1

Answer:

Explanation:

Development planners, economists, and politicians thus make frequent use of the national income measure of gross national product (GNP) and its variants, such as GDP (gross domestic product) and NNP (net national product) for a variety of purposes. GDP, the most commonly used variant of aggregate income, is essentially a short-term measure of total economic activity for which exchange occurs in monetary terms within a given year. It is valuable mostly for indicating short- to medium-term changes in the level of economic activity, and it is particularly useful for demand management and stabilization policies.

The same basic idea of income holds at the national level. Income is not a precise theoretical concept but rather a

practical guide to the maximum amount that can be consumed by a nation without eventual impoverishment. We know that we cannot consume the entire gross national product (GNP) without eventually impoverishing ourselves, so we subtract depreciation and get net national product (NNP), which is usually taken as income in Hick's sense.

Answer 2

Adapting measures of GNP to meet the requirements of sustainable development

Explanation:

• When a country carefully moves ahead with saving the national budget, fulfilling the needs of its citizens, coordinating and conserving natural resources for people of the next generation, it is known as Country with Sustainable Development.
• GNP is short of Gross National Product and it is calculated as combining all products and goods produced or manufactured in the nation or country.
• As it is mentioned in the definition of sustainable development that country should grow its people along with its development.
• To develop with sustainability, a nation should accept and follow various measures of GNP.

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