Are GDP/GNP appropriate measures of development?
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Gross national product GNP is an economic statistic that includes GDP plus any income . GDP as a measure of Economic Growth and Standard of Living 1.
G N P,Gnp
All are specially concerned with counting the total. Inequality of wealth is the gap in income between a countrys . Is gross domestic product a sufficient measure of an economys health? Many argue that GDP which counts the sum of the goods and services produced by a nation fails to reflect a populations. While GDP measures economic activity within a countrys borders the Gross National Product GNP measures the total income or. The main difference is that GNP Gross National Product takes into account net income receipts from abroad. acceptable measurement of development it will be necessary to include some . Though there are several criteria or principles to measure the economic development yet none provides a satisfactory and universally acceptable index of economic development. However if a countrys industrialists give a high priority on a clean environmental quality production and relaxed way of life and still increase production the GDP would be a good measure of economic welfare of its citizens. Lochner Martin 57814 Amazon.com Books . Meir and Baldwins definition it is said that if real GNP increases over a long period of time this situation will be considered as economic development. domestic goods and services produced product in a given year. Generally economic development is a process of change over a long period of time. received from abroad such as foreign investment and economic development aid. However modern economies have lost sight of the fact that the standard metric of economic growth gross domestic product GDP merely. As such it also measures the income earned from that production or the total amount spent on final goods and services less imports.
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