gross national product
DESCRIPTION
TRANSCRIPT
![Page 1: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/1.jpg)
GNP
definition calculation
Gross National Product
![Page 2: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/2.jpg)
DEFINITION
the total market value of all final products produced by the resources of the economy during a specified period of time
![Page 3: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/3.jpg)
•Excludes products not produced by the
resources of the economy as imports
LIMITATIONS
![Page 4: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/4.jpg)
•Only includes those products that can no longer be used for higher stages of
production
LIMITATIONS
![Page 5: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/5.jpg)
•time
LIMITATIONS
![Page 6: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/6.jpg)
CALCULATION
Income THREE
APPROACHES
Expenditure
Production
![Page 7: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/7.jpg)
" All expenditure incurred by individuals
during 1 year . "
EXPENDITURE
![Page 8: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/8.jpg)
GNP= C+I+G+(X-M)
EXPENDITURE
consumption
investment
government spending
net exports
![Page 9: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/9.jpg)
" sum total of incomes of
individuals living in a country
during 1 year ."
INCOME
![Page 10: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/10.jpg)
GNP= R+I+P+SA+W
INCOME
rents
interest
profits
Stat.adj.
wage
![Page 11: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/11.jpg)
also called as Net Product or
Value added method
PRODUCTION
![Page 12: Gross national product](https://reader033.vdocuments.us/reader033/viewer/2022061222/54c21dea4a795988208b4660/html5/thumbnails/12.jpg)
GNP= A+I+S±NFY
PRODUCTION
agriculture
industry
services
Net factor income