Question

what is the formula of GNPmp .

Answer 1

Answer:

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Answer 2

Answer:

the formula for calculating GNP is expressed as follows:

Y = C + I + G + X + Z

GNP = Consumption expenditure + Investment + Government expenditure + Net exports + Net income

The GNP formula makes it evident that it is equal to GDP plus Z. Gross domestic product (GDP) represents the total value of completed products and services generated domestically and abroad by people and businesses operating inside the nation. On the other hand, to determine the real worth of overall economic production, the gross national product subtraction their outputs.

Explanation:

What does GNP stand for?

Gross Domestic Product (GNP) The entire value of all completed products and services generated by a nation's residents in a particular fiscal year, regardless of where they were created, is known as the gross national product (GNP). GNP also accounts for the products produced by companies operating within a nation or outside.

• Unaffected by the place of production, a country's gross national product (GNP) is the sum of the values of all the products and services generated by its citizens and enterprises.
• The country's Gross National Product (GNP) accounts for the investments made by corporations and citizens, both inside and outside the country. The price of the goods produced by the domestic industry is also taken into consideration. The revenue made by foreign nationals living in the nation or any goods produced by a foreign corporation in manufacturing facilities there are not included in the GNP.

Only the final commodities and services are taken into account when calculating GNP. As it results in duplicate counting, intermediate items are avoided.

The following elements are taken into account when calculating a country's GNP:

• Cost of Consumption
• Investment
• Governmental spending
• Gross exports (Total exports minus total imports)
• Net profit (Income earned by residents in foreign countries minus income earned by foreigners in the country)

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