Gross National Product - Essay Example

Only on StudentShare

Extract of sample
Gross National Product

So, for example, when Americans receive more income from their overseas investments than foreigners receive from their investments in the United States, American GNP will be somewhat larger than GDP in that year. If Americans receive less income from their overseas investments than foreigners receive from their US investments, on the other hand, American GNP will be somewhat smaller than GDP (http://www.context.org/PEOPLE/celeste/gnpp.htm).
Equivalent estimates of GNP (or GDP) produced in a given year may theoretically be arrived at through at least three different accounting approaches, depending upon whether the transactions that determine the prices of final goods and services are looked at and tallied up by focussing on the buying or by focussing on the proceeds from selling or by focussing on the nature of the products themselves. Using the expenditure approach, you can estimate total GNP as the sum of estimates of the amounts of money that are spent on final goods and services by households (Consumption), by business firms (Investment), by government (Government Purchases), and by the world outside the country (Net Exports). ...Show more

Summary

Gross National Product (GNP) is an estimate of the total money value of all the final goods and services produced in a given one-year period by the factors of production owned by a particular country's residents. GNP and GDP are very closely related concepts in theory, and in actual practice the numbers tend to be pretty close to each other for most large industrialized countries…
Author : tdaniel
Gross National Product essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Gross National Product"
with a personal 20% discount.
Grab the best paper

Related Essays

Explain the differences between national income or gross domestic product and what the state of bhutan in the himalayas calls gr
This has subsequently become the foundation of modern economic analysis, and is used in financing budgets, bond rates, international loans, and economic development plans of nations across the globe. The accuracy of these statistics is based in government record keeping and private accounting measures and includes the sum of all economic activity in the country generated by the various sectors of production and services as a guide to the economic activity of a nation.
10 pages (2500 words) Essay
A strong healthy economy versus a strong healthy environment
When one is to reflect on the question, which is more important: a strong healthy economy or a strong healthy environment, the appropriate response to this question lies first in defining the determinants of health.
3 pages (750 words) Essay
The relation of the Gross Domestic Product to economic welfare
The Gross Domestic Product seeks to measure the sum of incomes received by the different types of sectors of the economy, from manufacturing and wholesale to agriculture and service industries. In most developed countries, this national data is published and revised every three months by the National Statistics Office.
4 pages (1000 words) Essay
Gross Domestic Product Master Essay
GDP is often expressed as either nominal or real GDP. When UK GDP trend from 1948 to 2005 is expressed in these measures and are graphed together, it should be noted that this will result into two different lines indicating the disparity between their values.
6 pages (1500 words) Essay
Gross Domestic Product
The data used to build and refine the econometric model was extracted from the Economic Trend Annual Supplement (ETAS) presented by the British Office for National Statistics (ONS). This was accomplished by applying fundamental econometric methods such as linear regression, misspecification testing, and hypothesis testing using the computer package E-Views.
8 pages (2000 words) Essay
Gross Domestic Product Bachelor Essay
As such it is an indicator of a country's standard of living. Gross Domestic Product (GDP) is defined as "the total value of final goods and services produced within a country's borders in year, regardless of ownership (Gross Domestic Product 1)." In national income accounting, GDP differs with Gross National Product (GNP) as the latter includes inter-country income transfers.
3 pages (750 words) Essay
(MACROECONOMICS) Explain why the actual budget deficit is not a good indicator of the fiscal stance and suggest any other better alternatives
The government needs to put considerable efforts to come up with conceptually appropriate and accurate indicators with respect to impacts of
5 pages (1250 words) Essay
Some thoughts of the article
However, inflation and unemployment issue tend to be a more critical due to their adverse impact in an economy. Inflation entails a persistent rise in services and commodity while unemployment is an economic
1 pages (250 words) Essay
Examine the difficulties involved in making international GDP per head comparisons
For example, China has the world’s largest population whereas Norway has a very limited population. If their GDP per head comparison is conducted, the subsequent result will be considerably
1 pages (250 words) Essay
NATIONAL LIBERATION, INTERNAL STRIFE AND INTERNATIONAL MACHINERY
were several industrial unrests as oil workers at the Maracaibo oil field went on strike in demand for better daily wages, better housing, and parity in salaries between local workers and foreigners. Oil companies refused these demands but instead sent in the police who decreed
3 pages (750 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT