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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