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The net domestic product (NDP) equals the gross domestic product (GDP) minus depreciation on a country's capital goods. [1] [2]= Net domestic product accounts for capital that has been consumed over the year in the form of housing, vehicle, or machinery deterioration.
NDP: Net domestic product is defined as "gross domestic product (GDP) minus depreciation of capital", [6] similar to NNP. GDP per capita: Gross domestic product per capita is the average market value rendered per person. GNI per capita: Gross national income per capita is related to average income per person and mean income.
Although the net national product is a key identity in national accounting, its use in economics research is generally superseded by the use of the gross domestic or national product as a measure of national income, a preference which has been historically a contentious topic (see e.g. Boulding (1948) [3] and Burk (1948) [4]).
In national income accounting, net national income (NNI) is net national product (NNP) minus indirect taxes. [1] Net national income encompasses the income of households, businesses, and the government.
The gross national income (GNI), previously known as gross national product (GNP), is the total amount of factor incomes earned by the residents of a country. It is equal to gross domestic product (GDP), plus factor incomes received from non-resident by residents, minus factor income paid by residents to non-resident.
Thus the left side gives GDP by the income method, and the right side gives GDP by the expenditure method. The GDP is given on the bottom line of both sides of the report. GDP must have the same value on both sides of the account. This is because income and expenditure are defined in a way that forces them to be equal (see accounting identity ...
To meaningfully compare its GDP in 2000 to its GDP in 1990, we could multiply the GDP in 2000 by one-half, to make it relative to 1990 as a base year. The result would be that the GDP in 2000 equals $300 million × 1 ⁄ 2 = $150 million , in 1990 monetary terms.
For oil-export-dependent economies, there could be substantial differences between real GDP and real GDI, due the effect of oil price volatility on the purchasing power in those countries. [1] [2] In the United States National Income and product accounts, the word GDI is use to define GDP calculated with income data rather than expenditure data ...