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Gross National Product at Market Price Calculator

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✖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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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: 34750 --> 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 --> 34750+1240

Evaluating ... ...

GNP_mp = 35990

STEP 3: Convert Result to Output's Unit

35990 --> No Conversion Required

FINAL ANSWER

35990 <-- Gross National Product at Market Price

(Calculation completed in 00.004 seconds)

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Gross National Product at Market Price Formula

LaTeX Go

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 -> 35990 = 34750+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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