Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
943 views
in CBSE by (15 points)

Please log in or register to answer this question.

1 Answer

0 votes
by (266k points)

Foreign trade, exports and imports, and goods and services. Now, these concepts are important as they affect the gross domestic product or GDP of the economy as a whole. However, in addition to GDP, there are several other very important macroeconomic identities that measure economic growth. These include the gross national product or GNP and the net national product or NNP.

Now, the GNP measures the total value of all final goods and services produced within a specific period of time by a country’s residents and enterprises. While calculating GNP, economists deduct the income earned domestically by foreign individuals and companies and add the income earned by residents and companies working abroad.

NNP is the total value of all final goods and services produced by the factors of production of a country within a given specific time minus depreciation. In other words, NNP is GNP – depreciation. Now while calculating the NNP, economists take into consideration two very important factors—indirect taxes and subsidies.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...