GDP formulas

Question 1

GDP at Market cost=

Answer 1

C+I+G+(X-M)

Question 2

GDP at factor cost=

Answer 2

GDP at market prices-taxes+subsidies

Question 3

GDP per capita=

Answer 3

GDP/ Country X population

Question 4

GNP=

Answer 4

GDP at market prices + Net property income from abroad or,
GNP= GDP - Income paid to foreign owned FOPs operating in domestic country + Income received from nationally owned FOPs operating abroad

Question 5

Net National Product (NNP) =

Answer 5

GNP-capital consumption/depreciation

Question 6

There are 3 ways of calculating GDP all of which should sum to the same amount:

Answer 6

National Output = National Expenditure (Aggregate Demand) = National Income