Gross National Product at Market Price Solution

STEP 0: Pre-Calculation Summary
Formula Used
Gross National Product at Market Price = Gross Domestic Product at Factor Cost+Net Factor Income from Abroad
GNPmp = GDPfc+NFIA
This formula uses 3 Variables
Variables Used
Gross National Product at Market Price - Gross National Product at Market Price is an economic measure that calculates the total market value of all goods and services produced by the residents of a country during a specific time.
Gross Domestic Product at Factor Cost - Gross Domestic Product at Factor Cost is a measure of the total value of all goods and services produced within a country's borders during a specific time period.
Net Factor Income from Abroad - Net Factor Income from Abroad is the difference between the factor income earned by a country from abroad and factor income paid by a country abroad.
STEP 1: Convert Input(s) to Base Unit
Gross Domestic Product at Factor Cost: 34500 --> No Conversion Required
Net Factor Income from Abroad: 1240 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
GNPmp = GDPfc+NFIA --> 34500+1240
Evaluating ... ...
GNPmp = 35740
STEP 3: Convert Result to Output's Unit
35740 --> No Conversion Required
FINAL ANSWER
35740 <-- Gross National Product at Market Price
(Calculation completed in 00.004 seconds)

Credits

Created by Aashna
IGNOU (IGNOU), India
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BMS College of Engineering (BMSCE), Bangalore
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19 Macroeconomics Calculators

Operating Surplus
Go Operating Surplus = Value of Output-Intermediate Consumption-Compensation of Employees-Mixed Income-Consumption of Fixed Capital-Net Indirect Taxes
Components of Aggregate Demand
Go Components of Aggregate Demand = Private Consumption Expenditure+Investment Expenditure+Government Expenditure+Net Exports
Real Effective Exchange Rate
Go Real Effective Exchange Rate = (Consumer Price Index of Domestic Nation*Nominal Effective Exchange Rate)/Consumer Price Index of Foreign Country
Net Factor Income from Abroad
Go Net Factor Income from Abroad = Net Compensation of Employees+Net Income from Property and Entrepreneurship+Net Retained Earnings
National Disposable Income
Go National Disposable Income = National Income+Net Indirect Taxes+Net Current Transfers from the Rest of the World
Gross Domestic Product at Factor Cost
Go Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes
Change in Money Supply
Go Change in Money Supply = (1/Required Reserve Ratio)*Change in Bank Reserves-(Initial Deposit Amount)
Personal Disposable Income
Go Personal Disposable Income = Personal Income-Personal Taxes-Miscellaneous Receipts of Government
Private Final Consumption Expenditure
Go Private Final Consumption Expenditure = Household Final Consumption Expenditure+Non Profit Private Institutions FCE
Gross National Product at Market Price
Go Gross National Product at Market Price = Gross Domestic Product at Factor Cost+Net Factor Income from Abroad
Net Domestic Product at Factor Cost
Go Net Domestic Product at Factor Cost = Net Domestic Product at Market Price-Net Indirect Taxes
Net Domestic Product at Market Price
Go Net Domestic Product at Market Price = Gross Domestic Product at Market Price-Depreciation
Growth Rate of Money Supply
Go Growth Rate of Money Supply = Rate of Inflation+Growth Rate of Real Gross Domestic Product
Real Gross Domestic Product Per Capita
Go Real Gross Domestic Product Per Capita = Real Gross Domestic Product/Total Population
Expenditure Multiplier
Go Expenditure Multiplier = Initial Consumer Price Index/Change in Government Spending
Gross National Disposable Income
Go Gross National Disposable Income = Net National Disposable Income+Depreciation
Velocity of Money
Go Velocity of Money = Nominal Gross Domestic Product/Money Supply
Real Wage
Go Real Wage = Nominal Wage/Consumer Price Index
Simple Deposit Multiplier
Go Simple Deposit Multiplier = 1/Required Reserve Ratio

Gross National Product at Market Price Formula

Gross National Product at Market Price = Gross Domestic Product at Factor Cost+Net Factor Income from Abroad
GNPmp = GDPfc+NFIA

What do you mean by Gross National Product at Market Price ?

Gross National Product at Market Price is the market value of all final goods and services produced in a country's domestic territory by ordinary citizens during an accounting year, including net factor income from abroad. GNP is the most fundamental concept in national income accounting. The Gross National Product (GNP) measures how much a country's inhabitants contribute to its economy. It takes citizenship into account, regardless of where the property is located.
Foreign residents' income earned within the country is not included in the GNP.
GNP also excludes foreign citizens' and enterprises' revenue earned in India, as well as products created in India by international corporations. GNP (MP) and GDP (MP) differ on the basis of Net Factor Income from Abroad. The difference between the factor income earned from residents of a nation and the factor income earned by non-residents of that country is known as net factor income from abroad.

How to Calculate Gross National Product at Market Price?

Gross National Product at Market Price calculator uses Gross National Product at Market Price = Gross Domestic Product at Factor Cost+Net Factor Income from Abroad to calculate the Gross National Product at Market Price, Gross National Product at Market Price is the market value of all final goods and services produced in a country's domestic territory by citizens during an accounting year, including net factor income from overseas. Gross National Product at Market Price is denoted by GNPmp symbol.

How to calculate Gross National Product at Market Price using this online calculator? To use this online calculator for Gross National Product at Market Price, enter Gross Domestic Product at Factor Cost (GDPfc) & Net Factor Income from Abroad (NFIA) and hit the calculate button. Here is how the Gross National Product at Market Price calculation can be explained with given input values -> 35650 = 34500+1240.

FAQ

What is Gross National Product at Market Price?
Gross National Product at Market Price is the market value of all final goods and services produced in a country's domestic territory by citizens during an accounting year, including net factor income from overseas and is represented as GNPmp = GDPfc+NFIA or Gross National Product at Market Price = Gross Domestic Product at Factor Cost+Net Factor Income from Abroad. Gross Domestic Product at Factor Cost is a measure of the total value of all goods and services produced within a country's borders during a specific time period & Net Factor Income from Abroad is the difference between the factor income earned by a country from abroad and factor income paid by a country abroad.
How to calculate Gross National Product at Market Price?
Gross National Product at Market Price is the market value of all final goods and services produced in a country's domestic territory by citizens during an accounting year, including net factor income from overseas is calculated using Gross National Product at Market Price = Gross Domestic Product at Factor Cost+Net Factor Income from Abroad. To calculate Gross National Product at Market Price, you need Gross Domestic Product at Factor Cost (GDPfc) & Net Factor Income from Abroad (NFIA). With our tool, you need to enter the respective value for Gross Domestic Product at Factor Cost & Net Factor Income from Abroad and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
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