Question

ve in your project. 2. Write a report in your own words (1 page, double-spaced), which contains the analysis of the results you received. In this report consider, but do not be limited to the following: 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? 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 NIP 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? Please analyze and discuss the significance of the data that you received for this Data exercise. Reflect on what you have learned from this exercise.

Answer 1

1)GDP helpful in measure National out put . It is total doller value of all final goods and services within a country. The duration of this period is not more than 12 months.

•GNP measure national income. It measure income on all Americans Whether good and services are produced in United States or foreign countries.

•GDP is primary indicator use to measure the health of country.

•GNP is the measure of all good and services produce by all citizens regardless of their location.

•GDP indicate size of economy that all good and services produced over a period.

•GNP:It is one measure condition of economy.

2) :- GDP measure the the value of good and services within the country while GNP measure the value of good and services within the country and abroad too .

•GNP take into account total income receipt from abroad.

•While GDP measure only domestic product within the particular country.