2 What is the difference between GDP and each of the followi

2. What is the difference between GDP and each of the following?

a. Gross national product

b. Net national product

c. National income

d. Personal income

e. Disposable personal income

Solution

GDP is the gross domestic product

GNP is the gross national product

NNP is the net national product

Natioanl Income

Personal Income

Disposable personal income

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2. What is the difference between GDP and each of the following? a. Gross national product b. Net national product c. National income d. Personal income e. Disp

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