Paper 3 Flashcards
1
Q
What is GNP, GDP and GNI and what are their limitations?
A
GNP stands for gross national product, the economic value of all finished goods and services annually.
GDP stands for gross domestic product, total value of foods and services within a country annually.
GNI stands for Gross national income, the total amount of money earned by an individual nation annually.
LIMITATIONS
* If not expressed in GDP per Capita, it does not
