Explanation:
GDP: Gross Domestic Product shall be the financial value for all finished products and services manufactured within a certain time frame in a country.
NDP: National Product symbolises GDP at the cost of factor except for depreciation of capital.
National Income (NI): Net Factor Cost Product = NNP Market price less Indirect taxes and about subsidies.
Analysis GDP, NDP, and NI
Given values in $ billion we first find the GDP
GDP = NDP + Capital Depreciation
GDP = Consumption + Investment + Government Expenditure +Exports - Imports.
Consumption = 219.1, Government Expenditure = 59.4, Exports =17.8, Imports = 16.5
Investment = Net Investment + Capital Depreciation
= 52.1+11.8
= $ 63.9
GDP = 219.1+63.9+59.4+17.8-16.5
=$ 343.7
NDP = GDP â Capital Depreciation
= 343.7-11.8
= $ 331.9
Finally National Income (NI)
NI = NDP minus (Net foreign factor income earned in U.S. 2.2 and Indirect business taxes =14.4)
= 331.9 â (2.2+14.4)
= $315.3 this is the National Income In $ billion
