ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -GNP is commonly calculated by taking the sum of personal consumption expenditures, private domestic investment, government expenditure, net exports, and any income earned by residents from overseas investments, then subtracting income earned by foreign residents.

Detailed explanation-2: -Related topics. Gross national income (GNI) is defined as gross domestic product, plus net receipts from abroad of compensation of employees, property income and net taxes less subsidies on production.

Detailed explanation-3: -Gross national income, abbreviated as GNI, is the sum of incomes of residents of an economy in a given period. It is equal to GDP minus primary income payable by resident units to non-resident units, plus primary income receivable from the rest of the world (from non-resident units to resident units).

Detailed explanation-4: -GNP is the sum of Gross Domestic Product at Market Price and Net Factor Income from abroad. The gross national product at factor cost is the difference between gross national product and net indirect taxes. It is also called gross national income.