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pearmoose458Lv1
28 Sep 2019
How does our current economic growth rate compare to some of the other major countries around the world? Explain the relationship between unemployment and gross national product (GNP).
How does our current economic growth rate compare to some of the other major countries around the world? Explain the relationship between unemployment and gross national product (GNP).
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Nusrat FatimaLv10
29 Sep 2019
Related textbook solutions
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Table 1.7.5. Relation of Gross Domestic Product, Gross National Product, Net National Product, National Income, and Personal Income | |||||
Line | 2015 | 2016 | |||
III | IV | I | II | ||
1 | Gross domestic product (GDP) | 18141.9 | 18222.8 | 18281.6 | 18436.5 |
4 | Gross national product | 18332.5 | 18434.1 | 18454.2 | 18632.5 |
14 | Net national product | 15488.4 | 15571.4 | 15580.6 | 15732.4 |
16 | National income | 15724.4 | 15836.2 | 15844.9 | 15956.6 |
25 | Personal income | 15556.1 | 15690.2 | 15740.1 | 15900 |
Part 2: Income Approach to Calculating GDP
What is the difference between GDP and GNP? What is the difference in what the GDP measures compared to GNP?
Based on the table, what calculations must you make to determine GNP from GDP?
What is national income (NI)? What does NI measure?
Which was higher in this year, GNP or NI? By how much?
What calculations must you make to determine NI from GNP?
NI is composed of a number of categories. What category makes up the largest portion of NI?