how is it different from gni?
GDP defines its scope according to location, while GNI defines it according to ownership.
Gross domestic product
The difference is that GDP defines its scope according to location, while GNI defines its scope according to ownership.
what is mackensen-class battlecruiser? Last class of battlecruisers built during WW1 what was the ww1? A global war originating in Europe. name a few parties involved. UNANSWERABLE how did it affect the economy? GDP increased for three Allies but decreased in France and Russia, in neutral Netherlands, and in the three main Central Powers. what is full form of that abbreviation ? Gross domestic product what does it represent? Monetary measure of the M.P. of all the final goods and services produced in a specific time period. can you mention its one limittion? Measurements of national income result in abuse since they deal with matters that are the center of conflict of opposing social groups. how is it connected to living standards? GDP per capita is often used as an indicator of living standards. by whom was this term introduced? UNANSWERABLE what are its components? Consumption (C), investment (I), government spending (G) and net exports (X – M).
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Gross domestic product [SEP] GDP and GNI
GDP can be contrasted with gross national product (GNP) or, as it is now known, gross national income (GNI). The difference is that GDP defines its scope according to location, while GNI defines its scope according to ownership. In a global context, world GDP and world GNI are, therefore, equivalent terms. GDP is product produced within a country's borders; GNI is product produced by enterprises owned by a country's citizens. The two would be the same if all of the productive enterprises in a country were owned by its own citizens, and those citizens did not own productive enterprises in any other countries.