Net national product (NNP) is the total market value of all final goods and services produced by residents in a country during a given time period. The difference between GDP and GNP is the net foreign income (NFI), which is the difference between factor payments received from the foreign sector by domestic citizens and factor payments made to NDP MP = (a) GDP MP – Depreciation (b) GDP FC + Net factor income from abroad (c) NNP FC + Net indirect taxes (d) All of these. Answer. Answer: (a) GDP MP Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value Compensation of employees $226.2 U.S. exports of goods and servi; Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. NDPMP = NNPMP – Net Factor Income from Abroad The basis of distinction between ‘gross’ and ‘net’ is depreciation or consumption of fixed capital. Gross = Net + Depreciation (or) Net = Gross – Depreciation b) Net Domestic Product at Factor Cost (NDPFC): NDPFC is defined as the total factor incomes earned by the factors of production. Explanation:The given options are related to national income accounting, which is used to measure the economic performance of a country. The correct relation among the national income accounting variables is:GDPMP = GNPMP - NFIwhere GDPMP is the gross domestic product at market prices, GNPMP is the gross national product at market prices, and NFI is the net factor income from abroad.Let's Functions of NNP –. NNP is a measure of how much a country can consume in a given period. NNP measures output regardless of where that production takes place (in other words, it includes the value of goods and services that American companies produce, supply or create abroad). 5. BOP – Balance of Payments. .

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