Distinguish between GDPMP and GNPFC

1.	Distinguish between GDPMP and GNPFC
Answer» The difference between both arise due to 1) Net factor income from abroad. and 2) Net indirect taxes. In GDP_MP Net factor income from abroad is not included but it includes net indirect taxes. GNP_FC = GDP_Mp + net factor income from abroad – net indirect taxes

Answer»

The difference between both arise due to

1) Net factor income from abroad. and

2) Net indirect taxes. In GDP_MP Net factor income from abroad is not included but it includes net indirect taxes. GNP_FC = GDP_Mp + net factor income from abroad – net indirect taxes

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Distinguish between GDPMP and GNPFC

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