Explore BrainMass
Share

Important information about similarities and differences between GDP and national income

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

What are the similarities and differences between GDP and national income?

© BrainMass Inc. brainmass.com December 20, 2018, 2:02 am ad1c9bdddf
https://brainmass.com/economics/economic-indicators/similarities-differences-gdp-national-income-207602

Solution Preview

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 Summary

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.

$2.19