GDP / GNI as a measure of living standards

IB Economics: GDP / GNI as a measure of living standards

This lesson looks at the difference between GDP and GNI, which many economists believe is the more accurate measure of a nation"s wealth. It also considers an even more accurate measurement of income, net national product or NNP. Your classes should also note, however, that while NNP is the most effective measure of national wealth it is rarely used. This is because of the difficulty of calculating depreciation. ...

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