Explain the difference between GDP and GNI. What will be an ...

[rosent76]

Explain the difference between GDP and GNI.
 
  What will be an ideal response?

Question 2

In 1950, Europe's population comprised about ________ of the world's total. Today it comprises about ________.
 
  A) 21; 9
  B) 10; 20
  C) 25; 3
  D) 8; 40

[chevyboi1976]

Answer to Question 1

The GDP refers to the gross domestic product; it is the value of all final goods and services
produced within a country's borders. The GNI, or gross national income, includes both the GDP
and all net income from outside that country's borders derived through trade and other forms of
income. Neither measure takes into account informal economic activities.

Answer to Question 2

A

[rosent76]

Thanks for the timely response, appreciate it

[bigsis44]

Great answer, keep it coming