How does the Gross Domestic Product (GDP) differ from the Gross National Product (GNP) ?
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Gross National Product (GNP) is the total value of final goods and services produced in a year by a country's nationals (including profits from capital held abroad).\n\nGross Domestic Product (GDP) is the total value of final goods and services produced within a country's borders in a year.\n\nThe difference is that GNP takes into account the earnings of their citizens abroad
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These are\nPer capita income\nGDP and GNP\nTotal Trade\nBalance of Payments\nConsumer price index (CPI)\nSensitive price index (SPI)\n\nFor different countires these figures are easily available on the net. One good example is the web site of CIA world fact book.
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yes. A country's gross domestic product, or GDP, is one of several measures of the size of its economy. The GDP is defined as the market value of all final goods and services produced within a country in a given period of time. Until the 1980s the term GNP or gross national product was used. The two terms GDP and GNP are almost identical. The most common approach to measuring and understanding GDP is the expenditure method:\n\n    GDP = consumption + investment + government spending + (exports − imports) \n\nMeasures of national income and output are used in economics to estimate the value of goods and services produced in an economy. They use a system of national accounts or national accounting first developed during the 1940s. Some of the more common measures are Gross National Product (GNP), Gross Domestic Product (GDP), Gross National Income (GNI), Net National Product (NNP), and Net National Income (NNI). Formerly in the Soviet Union and its satellite states COMECON, Net Material Product (NMI) was estimated (NNP-Services). In relation to greening the national accounts the United States Congressional Budget Office concludes "a gradual process of modifying measures of national economic performance is consistent with the history and development of the national accounts.
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The government affects GDP by collecting taxes and making purchases (goverment consumption).  Y = C (consumption) + I (investment) + G (Government = T (taxes)- P (purchases)) + (X-M) (Exports - Imports or Current Account)  \nSince Government purchases typically exceed taxes it is acceptable to also write Y = C + I + (X-M) - G
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Norway has the highest GNP of the Scandinavian countries, I would suggest largely because of the oil industry.\n\nAll the Nordic economies perform well as you rightly say.\n\nIn a nutshell, it is because of three factors,\n\n1. The amount of investment the Scandinavian governments put into the education programmes\n\n2. The amount of investment the Scandinavian governments put into the welfare state\n\n3. High investment in technology, research and development\n\nOn average, the Nordic countries outperform the Anglo-Saxon ones on most measures of economic performance. Poverty rates are much lower there, and national income per working-age population is on average higher. Unemployment rates are roughly the same in both groups, just slightly higher in the Nordic countries. The budget situation is stronger in the Nordic group, with larger surpluses as a share of GDP.\n\nThe Nordic countries maintain their dynamism despite high taxation in several ways. Most important, they spend lavishly on research and development and higher education. All of them, but especially Sweden and Finland, have taken to the sweeping revolution in information and communications technology and leveraged it to gain global competitiveness. Sweden now spends nearly 4 percent of GDP on R&D, the highest ratio in the world today. On average, the Nordic nations spend 3 percent of GDP on R&D, compared with around 2 percent in the English-speaking nations.\n\nThe Nordic states have also worked to keep social expenditures compatible with an open, competitive, market-based economic system. Tax rates on capital are relatively low. Labor market policies pay low-skilled and otherwise difficult-to-employ individuals to work in the service sector, in key quality-of-life areas such as child care, health, and support for the elderly and disabled.\n\nThe results for the households at the bottom of the income distribution are astoundingly good, especially in contrast to the mean-spirited neglect that now passes for American social policy. The U.S. spends less than almost all rich countries on social services for the poor and disabled, and it gets what it pays for: the highest poverty rate among the rich countries and an exploding prison population. Actually, by shunning public spending on health, the U.S. gets much less than it pays for, because its dependence on private health care has led to a ramshackle system that yields mediocre results at very high costs.
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a: Ireland...more specific the North Side and the British \nd: Gross National Product
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The most common approach to measuring and understanding GDP is the expenditure method:\n\nGDP = consumption + investment + exports − imports \nConsumption and investment in this equation are the expenditure on final goods and services. The exports minus imports part of the equation (often called net exports) then adjusts this by subtracting the part of this expenditure not produced domestically (the imports), and adding back in domestic production not consumed at home (the exports).\n\nEconomists (since Keynes) have preferred to split the general consumption term into two parts; private consumption, and public sector spending. Two advantages of dividing total consumption this way in theoretical macroeconomics are:\n\nPrivate consumption is a central concern of welfare economics. The private investment and trade portions of the economy are ultimately directed (in mainstream economic models) to increases in long-term private consumption. \nIf separated from endogenous private consumption, Government consumption can be treated as exogenous, so that different government spending levels can be considered within a meaningful macroeconomic framework. \nTherefore GDP can be expressed as:\n\nGDP = private consumption + government + investment + net exports \n(or simply GDP = C + G + I + NX)
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A good measure of wealth would be the Gross National Product, which included the earnings of all Japanese Nationals including those living abroad and that of Japanese assets in other countries.\n\nA good measure is then to find the Gross National Product per capita, which is just the GNP divided by population. This is important because larger countries will automatically have a higer GNP due to its size, but GNP per capita measures the share that each citizen has.
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NOT in the first half. In the latter half maybe. Indias GDP rises at about 7% every year. Whereas, America's at 1.7%. However, the major difference is: In America with a GDP of for instance 1000, it will be 1017. Whereas, in India the GDP will be 100 and be 107 in the next year. Now you figure out for yourself. I see China as the Country of the Century.
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http://www.statemaster.com/graph/eco_gdp-gross-state-product-current-dollars\n\nhere's a current list from a great resource. You can click on Per Capita tab to get gross state product per capita, which is a better indicator of wealth.\n\nGenerally, gross domestic product refers to independent countries, where gross state product refers to states, whether it's an Australian, Indian or American state.\n\nSo in conclusion, California has, by far, the highest GSP. Although Delaware has the highest GSP per capita, making it the wealthiest state per person.
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Nominal GDP  is based on the current(nominal)  price level. It tells us about the current year GDP on current year price level. \n\nReal GDP is based on the base year price level. It tells us about the GDP on real basis. This is free of the variations in price level.
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Real GDP per capita is a better measure. That is GDP adjusted for price changes and divided by the population. There are still problems with this measure, however, as it does not tell you anything about the distribution of income. The GINI index can be used for this. Also GDP does not take into account such things as the underground economy, illicit activity, leisure, pollution, hours worked, congestion etc.\n\nHaving said this, real GDP per capita is the best measure we have.
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Gross Domestic Product is now the preferred term to measure how well a country's economy is doing.  It includes all the goods and services produced by the companies of the nation, which includes divisions of companies located in foreign countries.  Gross National Product measures the value of the goods and services of all ecomonic activities within the country regardless who owns the firm.  The value is high or low depends on the previous year's activity, and compared to other nation's GNP/GDP
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Fiscal policy is the economic term which describes the actions of a government in setting the level of public expenditure and how that expenditure is funded.\n\nIt contrasts with monetary policy, which describes the policies about the supply of money to the economy.
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GDP (purchasing power parity): $161 billion (2005 est.)  \nGDP (official exchange rate):  $104.5 billion (2005 est.)  \nGDP - real growth rate: 3.9% (2005 est.)  \nGDP - per capita (PPP): $16,100 (2005 est.)  \nGDP - composition by sector:\nagriculture: 3.9% \nindustry: 30.9% \nservices: 65.3% (2005 est.)
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A national corporation does business throughout a country. It can be publicly or privately held. A private company is privately held, not owned by stockholders. There's really no way to compare the two.
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Yes, a difficult question. \n\nThe CIA World Factbook states that the GWP (gross world product) was $59.38 trillion in 2005