Gross National Product at Market Price Calculator

✖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.ⓘ Gross Domestic Product at Factor Cost [GDP_fc]			+10% -10%
✖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.ⓘ Net Factor Income from Abroad [NFIA]			+10% -10%

✖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 National Product at Market Price [GNP_mp]

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Formula

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Gross National Product at Market Price

Formula

`"GNP"_{"mp"} = "GDP"_{"fc"}+"NFIA"`

Example

`"35740"="34500"+"1240"`

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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
GNP_mp = GDP_fc+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

GNP_mp = GDP_fc+NFIA --> 34500+1240

Evaluating ... ...

GNP_mp = 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)

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Created by Aashna

IGNOU (IGNOU), India

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Verified by Vishnu K

BMS College of Engineering (BMSCE), Bangalore

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< 20 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

Life Expectancy

Go Life Expectancy = Current Age of the Individual+Average Life Expectancy-Adjustment Factor

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
GNP_mp = GDP_fc+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 GNP_mp 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 (GDP_fc) & 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 GNP_mp = GDP_fc+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 (GDP_fc) & 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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