Discuss the components of gross national product

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Reference no: EM1368630

Discuss the components of Gross National Product (GNP)? How does it understate aggregate production in Third World countries where substantial economic production may be consumed directly and thus not reach markets where it can be measured? Finally, is per capita income (PCI) a good measure of the level of living people enjoy or are the data skewed, given substantial differences in the distribution of income especially in Third World countries? Construct a 200-250 words posting in which you respond thoroughly, with at least one library source.

Reference no: EM1368630

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