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What is the difference between gdp and gnp

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Reference no: EM132072109

Question: Go to the following website: Beaureau of Economic Analysis

Based on the information contained on the website above, answer the following questions:

1. What was Real GDP for 2014?

• What does GDP tell us?

• How did GDP change from 2013?

• What caused these changes?

2. What was GNP for 2014?

• What is the difference between GDP and GNP?

• How did GNP change from 2013?

• What caused these changes?

3. What was National Income (NI) for 2014?

• What does National Income tell us?

• What is the difference between GNP and NI?

• How did NI change from 2013?

• What caused these changes?

4. What was Disposable Income (DI) for 2014?

• What does Disposable Income consist of?

• How did DI change from 2013?

• What caused these changes?

5. What was GDP in 2013 (sometimes called GSP) for your state (Alabama)?

Submit your responses in an Microsoft Word document in a short answer/worksheet format.

Reference no: EM132072109

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