Different Types of GNP & GDP
Last updated at April 16, 2024 by Teachoo
Chapter 2 National Income - Part 2 Concept of GDP and GNP
Concept of GDP - Meaning, Example and Types
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Economics Class 12
Macroeconomics
- Chapter 1 Macro - Introduction
- Chapter 2 National Income Accounting - Basic Concepts
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Chapter 2 National Income - Part 2 Concept of GDP and GNP
- Chapter 2 National Income - Part 3 Value Added Method
- Chapter 2 National Income - Part 4 Income Method
- Chapter 2 National Income - Part 5 Expenditure Method
- Chapter 2 National Income - Part 6 Summary of Different Methods
- Chapter 3 Part 1 - Money
- Chapter 3 Part 2 - Banking
- Chapter 4 Part 1 - AD,AS and Related Concepts
- Chapter 4 Part 2 - Income Determination and Multiplier
- Chapter 4 Part 3 - Excess Demand and Excess Supply
- Chapter 5 - Government Budget
- Chapter 6 Part 1 - Foreign Exchange Rates
- Chapter 6 Part 2 - Balance of Payment
Transcript
TYPES OF GDP TYPES OF GNP We have already studied that GDP is of 2 types GDP at Factor Cost (GDPFC ) GDP at Market Price (GDPMP ) Similarly, GNP is also of 2 types GNP at Factor Cost (GNPFC) GNP at Market Price (GNPMP) Relation between the two Relation between the two GDPFC = GDPFC = GDPMP - Net Indirect Taxes GDPMP - (Indirect Taxes- Subsidy) GNPFC = GNPFC = GNPMP - Net Indirect Taxes GNPMP - (Indirect Taxes- Subsidy) Difference between GNPMP and GNPFC GNP at Market Price GNPMP GNP at Factor Cost GNPFC It is Gross Market value of all final goods and services produced by Normal Residents of a Country It is Gross Money value of all final goods and services produced by Normal Residents of a Country It includes Net Indirect Taxes It does not Include Net Indirect Taxes GNPFC = GNPFC = GNPMP - Net Indirect Taxes GNPMP -(Indirect Taxes- Subsidy) It is not considered for calculating National Income It is considered for calculating National Income
