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What is the difference between GDP GNP NNP and NDP?
GDP calculation includes income of foreigners in a Country but excludes income of those people who are living outside of that country. NDP is calculated by deducting the depreciation of plant and Machinery from GDP. Net National Product (NNP) in an economy is the GNP after deducting the loss due to depreciation.
What is NNP and GNP?
Net national product (NNP) is gross national product (GNP), the total value of finished goods and services produced by a country’s citizens overseas and domestically, minus depreciation.
What is the difference between GNP GNP and NNP?
Difference Between Gdp, Gnp and Nnp. GNP is calculated by taking GDP + net property income from abroad (NFI). NNP is calculated by taking GNP – DP. For example, if a Chinese company operates and earn profits in Australia, the income is included in Australia’s GDP but not China’s GDP. This is because the production took place in Australia.
What is the NNP of a country?
NNP= GDP+ income from abroad- depreciation. NNP or Net National Product is the purest form of Income. It is the National Income or NI. We can find the per capita income of a country if we know the NNP and total population.
What is the full form of nnnp?
NNP refers to the Net National Product. It is also known as the National Income of the country. It includes the total value of goods and services produced in the economy, after accounting for Depriciation, Net Factor Income from Abroad and Taxes & Subsidies.
What is the net domestic product (NDP) of a country?
The net domestic product (NDP) equals the gross domestic product(GDP) minus depreciation on a country’s capital goods. Net domestic product accounts for capital that has been consumed over the year in the form of housing, vehicle, or machinery deterioration. The key difference between NNP and NDP is identical to that between GNP and GDP.