Different Concepts of National Income
Learn about the interrelationships among different concepts of national income. 1. Gross National Product (GNP) = Gross National Expenditure (GNE) 2. Gross Domestic Product (GDP) = GNP – Net Income from abroad 3. GNP at Market Prices = GNP at Factor Cost + Indirect Taxes – Subsidies 4. NNP at Market Prices = GNP at Market Prices – Depreciation or [...]