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Table 1.7.5. Relation of Gross Domestic Product, Gross National Product, Net National Product, National Income, and Personal Income
Line 2015 2016
III IV I II
1 Gross domestic product (GDP) 18141.9 18222.8 18281.6 18436.5
4 Gross national product 18332.5 18434.1 18454.2 18632.5
14 Net national product 15488.4 15571.4 15580.6 15732.4
16 National income 15724.4 15836.2 15844.9 15956.6
25 Personal income 15556.1 15690.2 15740.1 15900

Part 2: Income Approach to Calculating GDP

What is the difference between GDP and GNP? What is the difference in what the GDP measures compared to GNP?

Based on the table, what calculations must you make to determine GNP from GDP?

What is national income (NI)? What does NI measure?

Which was higher in this year, GNP or NI? By how much?

What calculations must you make to determine NI from GNP?

NI is composed of a number of categories. What category makes up the largest portion of NI?

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Paramjeet Chawla
Paramjeet ChawlaLv8
28 Sep 2019

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