Define Gross National Product and explain how it is calculated. Use an example to support your...
Define Gross National Product and explain how it is calculated.
Use an example to support your explanation.
Homework Answers
Answer
Gross national product is the summation of total money value of all final goods and services produced by a country in a year(GDP) and net factor income from abroad (NFIA).
So GNP=GDP+NFIA
If GDP=12000 crore
NFIA=200 crore
Then GNP=12000+200
=12200 crore
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