Question 1

Calculating of Gross National Product (GNP) especially in poor countries are largely guesswork and even if they are accurate GNP itself can be a poor measurement of welfare.
Discuss this view of the problem of measuring and using GNP statistics.

Introduction
Gross National Product (GNP) is the term is the total market value of all final goods and services produced by the citizens of a country. It is equal to the Gross Domestic Product (GDP) minus the net income of the foreigners. For example a Jamaican resident has invested in America, it would still be valued as GNP not GDP because Gross domestic Product (GDP) has not only to do with goods and services within the borders of a country. However GNP is used to measure economic growth, it is believed to be equal with the health of the economy and economic progress. GNP is use to measurement to see if it can truly reflects the economic welfare and growth of a country and especially in relation to the poor countries.......

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Title: Macro Economics
Approximate Word Count: 1235
Approximate Pages: 5 (250 words per double-spaced page)

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