How it affects japanese gdp and gnp

Reference no: EM133666078

Problem: The Bureau of Economic Analysis (BEA) replaced gross national product (GNP) with gross domestic product (GDP) as an update to the National Income and Product Accounts (NIPAs) in November 1991. In concept, both GDP and GNP measure the market value of all final goods and services produced in a certain period. However, there are still differences between them. Explain in your own words how you can get the GNP of a country with adjustments to its GDP. Suppose Honda, as a Japanese vehicle manufacturer, made 8 billion dollars ($) in the United States in 2023. How the $8 billion affects US GDP and GNP? How it affects Japanese GDP and GNP? The Consumer Price Index (CPI) is a series of price indices calculated by the U.S. Bureau of Labor Statistics (BLS) per month. Suppose we know the average CPI was 259 in December 2019. After years, the average CPI jumped up to 309 in December 2023. Suppose a gallon gasoline costs $2.55 in December 2019. Then, how much is the cost ($/gallon) equivalent to the dollar value in December 2023.

Reference no: EM133666078

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