The difference between GDP and GNI.

Question

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Answer 1

Question

Chapter 1.9, Problem 1RQ

To determine

The difference between GDP and GNI.

Expert Solution & Answer

Answer to Problem 1RQ

The GDP is the value of all the final goods and services that are produced in a particular country, whereas GNI is the GDP along with the net income that a country attains from outside the borders in the form of trades and investments.

Explanation of Solution

GDP is the Gross Domestic Product. It is the value of all the final goods and services that are produced in a particular country. It is the measure of the size of a country’s economy.

GNI is the Gross National Income. It is the value of all the final goods and services that are produced in a particular country along with the net income that a country attains from outside the borders in the form of trades and investments.

The GDP and GNI ignore the nonmarket economic activities such as exchange of goods without the money involvement, household works, ecological degradation or depletion of natural resources which affect the nation’s economy in a long run. Hence, they specify the economy of the nation at a particular moment but cannot be a reliable source in a long run.

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Answer 2

Question

Chapter 1.9, Problem 1RQ

To determine

The difference between GDP and GNI.

Expert Solution & Answer

Answer to Problem 1RQ

The GDP is the value of all the final goods and services that are produced in a particular country, whereas GNI is the GDP along with the net income that a country attains from outside the borders in the form of trades and investments.

Explanation of Solution

GDP is the Gross Domestic Product. It is the value of all the final goods and services that are produced in a particular country. It is the measure of the size of a country’s economy.

GNI is the Gross National Income. It is the value of all the final goods and services that are produced in a particular country along with the net income that a country attains from outside the borders in the form of trades and investments.

The GDP and GNI ignore the nonmarket economic activities such as exchange of goods without the money involvement, household works, ecological degradation or depletion of natural resources which affect the nation’s economy in a long run. Hence, they specify the economy of the nation at a particular moment but cannot be a reliable source in a long run.

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Answer 3

Question

Chapter 1.9, Problem 1RQ

To determine

The difference between GDP and GNI.

Expert Solution & Answer

Answer to Problem 1RQ

The GDP is the value of all the final goods and services that are produced in a particular country, whereas GNI is the GDP along with the net income that a country attains from outside the borders in the form of trades and investments.

Explanation of Solution

GDP is the Gross Domestic Product. It is the value of all the final goods and services that are produced in a particular country. It is the measure of the size of a country’s economy.

GNI is the Gross National Income. It is the value of all the final goods and services that are produced in a particular country along with the net income that a country attains from outside the borders in the form of trades and investments.

The GDP and GNI ignore the nonmarket economic activities such as exchange of goods without the money involvement, household works, ecological degradation or depletion of natural resources which affect the nation’s economy in a long run. Hence, they specify the economy of the nation at a particular moment but cannot be a reliable source in a long run.

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Answer 4

Question

Chapter 1.9, Problem 1RQ

To determine

The difference between GDP and GNI.

Expert Solution & Answer

Answer to Problem 1RQ

The GDP is the value of all the final goods and services that are produced in a particular country, whereas GNI is the GDP along with the net income that a country attains from outside the borders in the form of trades and investments.

Explanation of Solution

GDP is the Gross Domestic Product. It is the value of all the final goods and services that are produced in a particular country. It is the measure of the size of a country’s economy.

GNI is the Gross National Income. It is the value of all the final goods and services that are produced in a particular country along with the net income that a country attains from outside the borders in the form of trades and investments.

The GDP and GNI ignore the nonmarket economic activities such as exchange of goods without the money involvement, household works, ecological degradation or depletion of natural resources which affect the nation’s economy in a long run. Hence, they specify the economy of the nation at a particular moment but cannot be a reliable source in a long run.

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Answer 5

Chapter 1.9, Problem 1RQ

To determine

The difference between GDP and GNI.

Expert Solution & Answer

Answer to Problem 1RQ

The GDP is the value of all the final goods and services that are produced in a particular country, whereas GNI is the GDP along with the net income that a country attains from outside the borders in the form of trades and investments.

Explanation of Solution

GDP is the Gross Domestic Product. It is the value of all the final goods and services that are produced in a particular country. It is the measure of the size of a country’s economy.

GNI is the Gross National Income. It is the value of all the final goods and services that are produced in a particular country along with the net income that a country attains from outside the borders in the form of trades and investments.

The GDP and GNI ignore the nonmarket economic activities such as exchange of goods without the money involvement, household works, ecological degradation or depletion of natural resources which affect the nation’s economy in a long run. Hence, they specify the economy of the nation at a particular moment but cannot be a reliable source in a long run.

Answer 6

Chapter 1.9, Problem 1RQ

To determine

The difference between GDP and GNI.

Expert Solution & Answer

Answer to Problem 1RQ

The GDP is the value of all the final goods and services that are produced in a particular country, whereas GNI is the GDP along with the net income that a country attains from outside the borders in the form of trades and investments.

Explanation of Solution

GDP is the Gross Domestic Product. It is the value of all the final goods and services that are produced in a particular country. It is the measure of the size of a country’s economy.

GNI is the Gross National Income. It is the value of all the final goods and services that are produced in a particular country along with the net income that a country attains from outside the borders in the form of trades and investments.

The GDP and GNI ignore the nonmarket economic activities such as exchange of goods without the money involvement, household works, ecological degradation or depletion of natural resources which affect the nation’s economy in a long run. Hence, they specify the economy of the nation at a particular moment but cannot be a reliable source in a long run.

Answer 7

Chapter 1.9, Problem 1RQ

To determine

The difference between GDP and GNI.

Answer 8

Expert Solution & Answer

Answer to Problem 1RQ

The GDP is the value of all the final goods and services that are produced in a particular country, whereas GNI is the GDP along with the net income that a country attains from outside the borders in the form of trades and investments.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

GDP is the Gross Domestic Product. It is the value of all the final goods and services that are produced in a particular country. It is the measure of the size of a country’s economy.

GNI is the Gross National Income. It is the value of all the final goods and services that are produced in a particular country along with the net income that a country attains from outside the borders in the form of trades and investments.

The GDP and GNI ignore the nonmarket economic activities such as exchange of goods without the money involvement, household works, ecological degradation or depletion of natural resources which affect the nation’s economy in a long run. Hence, they specify the economy of the nation at a particular moment but cannot be a reliable source in a long run.

Answer 12

Ch. 1.1 - Prob. 1RQ Ch. 1.1 - Prob. 2RQ Ch. 1.1 - Prob. 3RQ Ch. 1.2 - Prob. 1RQ Ch. 1.2 - Prob. 2RQ Ch. 1.2 - Prob. 3RQ Ch. 1.3 - Prob. 1RQ Ch. 1.3 - Prob. 2RQ Ch. 1.3 - Prob. 3RQ Ch. 1.3 - Prob. 4RQ

The difference between GDP and GNI.

Solution Summary: The author explains the difference between GDP and GNI. GDP is the value of all the final goods and services that are produced in a particular country.

The difference between GDP and GNI.

Answer to Problem 1RQ

Explanation of Solution

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