Question

Prepare a note on GDP, GNP, NNP and per capita income.

Answer 1

Answer:

While Calculating GNP, income of foreigners in a country is excluded but income of people who are living outside of that country is included. The value of GNP is calculated on the basis of GDP. Net National Product (NNP) in an economy is the GNP after deducting the loss due to depreciation.