Question

Using Table 7 and Table 8 (attached below), create a table that contains the following information for the last year quarterly (Q3):
Gross domestic product
Gross national product
Net national product
National income
Personal income

Use the data to answer:
1. What is the difference 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. What was higher in this year, GdP 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?
7. Analyze and discuss the significance of the data you received for this Data exercise.


December 21, 2018 Table 7. Relation of Gross Domestic Product, Gross National Product, and National Income Billions of dollars] Seasonally adjusted at annual rates 2017 Line 201520162017 2018 Line Q3 04 Q1 Q2 Q3 1 Gross domestic product (GDP) 2 Plus: Income receipts from the rest of the world 3 Less: Income payments to the rest of the world 4 Equals: Gross national product 5 Less: Consumption of fixed capital 6 Less: Statistical discrepancy 7 Equals: National income 8 Compensation of employees 9 Wages and salaries 10Supplements to wages and salaries 11 Proprietors' income with inventory valuation and capital 18,219.3 18,707.2 19,485.4 19,588.1 19,831.8 20,041.0 20,411.9 20,658.21 839.3 859.1957.1979.61,024.5 1,063.2 ,078.6 1,071.52 613.1 643.8713.4724.6 753.7 794.4 811.6816.53 18,445.5 18,922.5 19,729.1 19,843.0 20,102.6 20,309.8 20,678.9 20,913.34 2,917.5 2,990.5 3,116.2 3,134.8 3,163.9 3,203.4 3,253.8 3,297.75 1.4 43.76 15,783.0 16,058.9 16,756.1 16,8226 17,015.3 17,266.2 17,423.7 17,659.37 9,696.8 9,956.2 10,407.2 10,471.2 10,568.6 10,710.1 10,782.9 10,893.38 7,854.4 8,080.7 8,453.8 8,506.6 8,588.1 8,710.6 8,770.8 8,865.6 9 1,842.4 1,875.6 1,953.4 1,964.6 1,980.51,999.4 2,012.0 2,027.7 10 -254.9 126.9 143.2114.4 76.6 -159.9 consumption adjustments 1,421.9 1,419.3 1,500.9 1,507.5 1,526.1 1,549.9 1,568.5 1,580.0 11 12 Rental income of persons with capital consumption adjustment 651.8694.8730.2732.0 745.3 749.3 754.2 767.412 13 Corporate profits with inventory valuation and capital 2,057.3 2,035.0 2,099.32,101.1 2,150.7 2,177.3 2,242.3 2,320.5 13 591.8546.0576.4561.5 580.1 591.9 583.8 563.2 14 1,212.6 1,241.9 1,285.9 1,290.7 1,305.8 1,3374 1,354.2 1,375.2 15 156.7168.11.2 164.0 147.0 161.2 150.8 172.616 8.2 -10.8 -12.9 13.0 17 consumption adjustments 14Net interest and miscellaneous payments 15 Taxes on production and imports less subsidies 6 Business current transfer payments (net) 17 Current surplus of govenment enterprises 2.3 4.9 Addenda 18 Gross domestic income (GDI) 19 Average of GDP and GDI 20 Statistical discrepancy as a percentage of GDP r Revised Source: U.S. Bureau of Economic Analysis 18,474.2 18,834.1 19,628.619,702.5 19,908.5 20,201.0 20,410.5 20,701.9 18 18,346.8 18,770.7 19,557.0 19,645.3 19,870.2 20,121.0 20,411.2 20,680.1 19 0.2 20 0.0

Answer 1

The following table gives the information about Gross domestic product Gross national product Net national product national income product national income and personal income for last year quarterly what is the difference between gross domestic product (GDP) and gross national product (GNP)? When the value of all goods and services which are produced with in territory of country by any citizen or corporation of any country is calculated it is GDP but when the value of those goods and services which are also produced by all citizens or corporations of other country into the territory of the country is deducted to from GDP then it becomes GNP what is the difference in what GDP measures compared to GNP GDP measures the a value of all goods produced with in the territory or boundary of country where as CNP measures the value of all goods produced by all citizens and corporations of the country in any territory of any other country