What are the similarities and differences between GDP and national income?© BrainMass Inc. brainmass.com March 4, 2021, 8:58 pm ad1c9bdddf
Before we go for differences between we will look at why GDP, GNI, GNP,etc are estimated for.
Measures of national income and output are used in economics to estimate the welfare of an economy through totaling the value of goods and services produced in an economy. They use a system of national accounting first developed during the 1940s. The ...
Solution clearly explains the similarities and differences between GDP and National Income and also explains different economic indicators like GDP,GNI, GNP, GNE, NNP, NNI.