The net exports formula subtracts total ... is also added to the national income. All of this together constitutes a nation’s income. GDP vs. GNP vs. GNI Although GDP is a widely used metric ...

Formula: NDP at Market Price = NDP at Factor Cost + Indirect Taxes − Subsidies 5. Gross National Product (GNP) at Factor Cost GNP at factor cost extends GDP by incorporating net income from ...

This can inflate the national output without truly reflecting domestic income or benefit. 3. Ignores Environmental and Social Costs GDP measures material output, but not the quality of life or ...