GDP, GNP, GNI, HDI? There are so many ways but which one is more accurate? It’s very confusing because you see different numbers from the IMF, World Bank, U.N., CIA World Factbook, etc.
GDP, GNP, and GNI are all close, but not the same, which is probably why you’re getting the same answer. GDP is the value of all goods and services produced in the country regardless of who produced it. GNP on the other hand cares about who produced, but they don’t care what country it was physically produced in. So if it was produced by an American in Japan, it would count towards GNP but not GDP and if it were produced by a Brazilian in the US, it would count toward GDP but not GNP for the US. GNI is GDP+ income received from other countries (notably interest and dividends), less similar payments made to other countries. I’ve seen GDP and GNP used much more frequently.
HDI is a whole nother boat and would require an opinion to evaluate whether or not it’s better. If you’re looking for what’s typically used in an economics class, I’d stick with GDP.
quality of life – which has nothing to do with money and everything to do with a well functioning society, clean air, clean water and pure food – coupled with community – it can happen in the poorest country if it is rich in those things.
the worst country can have all the bells and whistles and be completely out of touch with each other, nature and the things that really require to prosper – which has little to do with gnp, money or status.
but in school and work the correct answer is always what the teacher or boss wants to hear.
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how many other country’s they have invaded!!!
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Private sector growth
Now read this and get back to me.
The Impact of Government Spending on Economic Growth
by Daniel J. Mitchell, Ph.D.
Backgrounder #1831 http://www.heritage.org/Research/Budget/bg1831.cfm
: March 15, 2005
ECONOMICS IN ONE LESSON
http://www.mises.org/books/onelesson.pdf
Tax Incidence, Tax Burden, and Tax Shifting: Who Really Pays the Tax? http://www.heritage.org/Research/Taxes/cda04-12.cfm
by Stephen J. Entin
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You measure a country’s progress by what amount of help they give to the underdeveloped nations from their G.N.P.
The more they give? The more progress the country is making.
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GDP, GNP, and GNI are all close, but not the same, which is probably why you’re getting the same answer. GDP is the value of all goods and services produced in the country regardless of who produced it. GNP on the other hand cares about who produced, but they don’t care what country it was physically produced in. So if it was produced by an American in Japan, it would count towards GNP but not GDP and if it were produced by a Brazilian in the US, it would count toward GDP but not GNP for the US. GNI is GDP+ income received from other countries (notably interest and dividends), less similar payments made to other countries. I’ve seen GDP and GNP used much more frequently.
HDI is a whole nother boat and would require an opinion to evaluate whether or not it’s better. If you’re looking for what’s typically used in an economics class, I’d stick with GDP.
References :