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    Group 1 GNP Gni

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    Aldeon Nonan
    This document defines and compares Gross Domestic Product (GDP), Gross National Income (GNI), and Gross National Product (GNP). GDP measures the total value of goods and services produced within a country's borders annually. GNI is the total income earned by a country's residents from all sources, including income earned abroad. GNP measures the total value of final goods and services produced by residents of a country, plus their net income from foreign investments. The document then provides the formula to calculate GNI and lists its components. It notes the 2022 GNP and GDP values for the Philippines. Finally, it outlines some shortcomings of using GNI and GDP as measures of economic performance and well-being.

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    Group 1 GNP Gni

    Uploaded by

    Aldeon Nonan
    26 views8 pages
    This document defines and compares Gross Domestic Product (GDP), Gross National Income (GNI), and Gross National Product (GNP). GDP measures the total value of goods and services produced within a country's borders annually. GNI is the total income earned by a country's residents from all sources, including income earned abroad. GNP measures the total value of final goods and services produced by residents of a country, plus their net income from foreign investments. The document then provides the formula to calculate GNI and lists its components. It notes the 2022 GNP and GDP values for the Philippines. Finally, it outlines some shortcomings of using GNI and GDP as measures of economic performance and well-being.

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    GNP report

    Original Title

    GROUP-1-GNP-GNI

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    This document defines and compares Gross Domestic Product (GDP), Gross National Income (GNI), and Gross National Product (GNP). GDP measures the total value of goods and services produced within a country's borders annually. GNI is the total income earned by a country's residents from all sources, including income earned abroad. GNP measures the total value of final goods and services produced by residents of a country, plus their net income from foreign investments. The document then provides the formula to calculate GNI and lists its components. It notes the 2022 GNP and GDP values for the Philippines. Finally, it outlines some shortcomings of using GNI and GDP as measures of economic performance and well-being.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    26 views8 pages

    Group 1 GNP Gni

    Uploaded by

    Aldeon Nonan
    This document defines and compares Gross Domestic Product (GDP), Gross National Income (GNI), and Gross National Product (GNP). GDP measures the total value of goods and services produced within a country's borders annually. GNI is the total income earned by a country's residents from all sources, including income earned abroad. GNP measures the total value of final goods and services produced by residents of a country, plus their net income from foreign investments. The document then provides the formula to calculate GNI and lists its components. It notes the 2022 GNP and GDP values for the Philippines. Finally, it outlines some shortcomings of using GNI and GDP as measures of economic performance and well-being.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 8

    GROSS NATIONAL

    INCOME/GROSS
    NATIONAL PRODUCT
    and GROSS DOMESTIC
    PRODUCT

    MACROECONOMICS
    What is GDP, GNI/GNP?
    • GROSS DOMESTIC PRODUCT (GDP): GDP represents the total`
    monetary value of all goods and services produced within a country's
    borders over a specific period, usually a year.
    • GROSS NATIONAL INCOME (GNI): GNI is the total income earned by a
    country's residents and businesses, including income generated
    abroad.
    • GROSS NATIONAL PRODUCT (GNP): GNP measures the total market
    value of all final goods and services produced by a country's residents
    within a particular time frame, plus the net income earned from
    overseas investments.
    HOW TO CALCULATE GROSS
    NATIONAL INCOME?

    GNI = C (Consumption) + I
    (Investment) + G (Government
    Spending) + X (Net Exports )+
    NFFI ( Net Foreign Factor Income)
    • Consumption (or personal consumption expenditure)- is
    the value of all goods and services acquired and consumed
    by the country’s households.
    • Investment -this is any domestic capital spending by a
    country’s citizen-run businesses.
    • Government Spending -this is all consumption and
    investments made by the government.
    • Net exports - this is the country’s exports MINUS the
    country’s imports.
    • Net Foreign Factor Income -this is income that the
    country’s citizens earn abroad MINUS the income that
    foreign residents earn in the country and send out of the
    country
    • According to the MacroTrends website and World
    Bank, the GNP and GNI of the Philippines in 2022
    was $457.02 billion USD PhP 24.93 trillion, a 13.07%
    increase from 2021. This is the highest GNP that
    the Philippines has ever recorded.

    •According to the Philippine Statistics Authority


    (PSA), the Philippines' GDP in 2022 was $992 billion
    55,957.99 Peso in purchasing power parity (PPP)
    terms. This is a growth of 7.6% from 2021.
    WHAT ARE THE SHORTCOMINGS OF
    GROSS NATIONAL INCOME?
    Shortcomings of Gross National Income: While useful for the additional view of
    a nation's economy that it provides, GNI has drawbacks.

    • GNI can be misleading when used to compare countries because it doesn't


    account for differences in the size of populations.

    • It accounts only for income in terms of economic development and offers no


    insight into quality of life.

    • GNI figures for countries with different currencies must be converted to a


    common currency and thus may not accurately reflect a specific country's
    purchasing power.
    WHAT ARE THE SHORTCOMINGS OF
    GROSS DOMESTIC PRODUCT?
    • Excludes Non-Market Activities:
    • GDP only considers market transactions and excludes non-market activities such as
    household work, volunteerism, and other informal sector activities. This can lead to an
    underestimation of the overall economic activity and the value of certain contributions
    to society.
    • Focus on Quantity, Not Quality:
    • GDP focuses on the quantity of goods and services produced, but it does not
    differentiate between products that enhance well-being and those that have negative
    social or environmental impacts. It does not consider the quality or social utility of
    economic activities.
    • Ignores Quality of Work:
    • GDP does not consider the quality of employment or the overall well-being of workers.
    It measures the total value of goods and services produced but does not account for
    factors such as job satisfaction, work-life balance, or the nature of employment.
    GROUP 1:
    BIAY, MARICAR S.
    DOCTOLERO, EVANDER
    MERCADO, SHIELA MARIE T.
    USORIA, SHERYLL JEAN P.
    VILLANUEVA, KYLLA MARIE A.

    BSEd SOCIAL STUDIES 3

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