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Economics: GNI GNP GDP

  • 01-05-2009 10:27AM
    #1
    pathway33
    Registered Users, Registered Users 2 Posts: 2,229 ✭✭✭


    What's the difference between

    gross national income
    gross national product
    gross domestic product

    :confused:


Comments

  • #2
    Mr Maroon
    Closed Accounts Posts: 443 ✭✭Mr Maroon


    Gross domestic product (GDP) is defined as the "value of all goods and services produced in a country in one year".

    Gross National Product (GNP) is defined as the "value of all goods and services produced in a country in one year by the nationals, plus income earned by its citizens abroad, minus income earned by foreigners in the country".


    GNI= the total value produced within a country (i.e. its gross domestic product) + its income received from other countries (notably interest and dividends), - similar payments made to other countries


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