What is the difference between gross domestic product

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1. What is the difference between gross domestic product (GDP) and gross national product (GNP)? What is the difference in what GDP measures compared to GNP?

2. Based on the table, what calculations must you make to determine GNP from GDP?

3. What is national income (NI)? What does NI measure?

4. Which was higher in this year, GNP or NI? By how much?

5. What calculations must you make to determine NI from GNP?

6. NI is composed of a number of categories. What category makes up the largest portion of NI?

Reference no: EM13893235

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