Gross domestic product
Write a report in your own words (1 page, double-spaced), which contains the analysis of the results you received. In this report consider, but do not be limited to the following:
- What is the difference between gross domestic product (GDP) and gross national product (GNP)? What is the difference in what GDP measures compared to GNP?
- Based on the table, what calculations must you make to determine GNP from GDP?
- What is national income (NI)? What does NI measure?
- Which was higher in this year, GNP or NI? By how much?
- What calculations must you make to determine NI from GNP?
- NI is composed of a number of categories. What category makes up the largest portion of NI?
- Please analyze and discuss the significance of the data that you received for this Data exercise. Reflect on what you have learned from this exercise.