GS I›E-1.1.1›GDP, GNP, NNP, GVA — relationships & differences

GDP, GNP, NNP, GVA — relationships & differences

E-1.1.1Core
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Exam Strategy

This topic appears in 60-70% of recent Prelims papers as direct MCQs testing definitions, formulas, and conceptual distinctions. Examiners focus on relationships between GDP/GNP/NNP and GVA, with frequent confusion traps between gross and net measures. Common errors: conflating GDP with GNP, misunderstanding factor cost vs market price, and forgetting depreciation's role in net concepts.

High-yield hooks
1

GDP = GNP minus Net Factor Income from Abroad

2

NNP = GNP minus Depreciation (Capital Consumption)

3

GVA at factor cost + Taxes minus Subsidies = GDP at market price

4

GNP includes incomes earned by nationals, GDP covers territorial production only

5

Net = Gross minus Depreciation always

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SCANECONOMY/NATIONAL-INCOMEECONOMY/GDP-MEASUREMENTECONOMY/MACROECONOMICS