I know this is a small topic and a short video but I think this is one of the best explanations of anything I have every found, didn’t go off topic and talk about related things, got straight to the point, gave examples, and explained why. Thank you, you are brilliant
For those who are still confused (I was): GDP: all production within a country regardless of residency. (A canadian who crosses the border to work in the U.S. still adds to U.S. GDP, it does not matter where he lives.) GNP: production of U.S. citizens (or whatever country you are talking about) regardless of which country they are working in. The difference is simple, to calculate GNP: just take the GDP, subtract income earned by foreign citizens in the U.S.... then add the income earned by U.S. citizens in foreign land. In conclusion, GDP does not care about citizenship. GNP cares about citizenship.
RUclips’s algorithms are strange. This video was done originally on Facebook live with a low quality phone and then it was pulled off and put onto RUclips and it’s my most watched video. I’m a small channel and anytime day or night there’s a good chance somebody has been watching this video in the last hour.
I aspire to have a economic understanding and a intellect as yours good sir. Your videos are very informative and easy to understand, I will be there right with you one day Benjamin.
Thank you for watching. I have no current plans to do a video on that topic, but I can recommend this one. I’m not sure where you’re from but this video is based out of India and so when they are referring to India that would be the example of your domestic country. They also use the word Lac for Lac Rupees which is their currency. The part of the video about NDP and NNP starts at 4:14. Wish you the best! m.ruclips.net/video/A7_W_d1ZTEo/видео.html
This video doesn't provide that, perhaps there's a chart online or in a textbook that can help you. To sum up, GNP = ownership matters (where the company is based matters for crediting the income) GDP = ownership DOESN'T matter (where the company produces the good or service matters for crediting the income). Hope this helps!
Good video. Thank you. How does a country collect this information, especially in under developed economies where large number of transactions are cash and there is no paper trail. Again, how can one ensure third world countries do not inflate this number (influencing their Central Banks) for domestic political propaganda and gain?
GDP ve GNP diye iki kavram vardır sevgili öğrenciler… Bunları detaylı açıklamayacağım ama lütfen araştırmayı ihmal etmeyiniz… Vatandaşlıktan çıkana kadar Yurtdışında elde edilen gelirler bizim hesabımıza yazar…
simple explanation, but it leaves out the impacts of FDI and Foreign Trade. This is where GNP is the better measure because it gives the big picture of a country's total wealth. You can see how a nation like China has GDP overstated, since more than 2/3 of production has been propped up by Foreign Direct Investment and trade that otherwise should go to the countries that owned the product/production. Yet the rules under the WTO are bent so that a company isn't penalized for shipping final product to itself (therefore 'assumes' the product is -Made In- the country that produced it).
haha as a Japanese, your pronunciation of MacDonald was best. and also as a university student, this video was easy to understand
* your pronunciation of MacDonald in Japan
Thank you so much!
I know this is a small topic and a short video but I think this is one of the best explanations of anything I have every found, didn’t go off topic and talk about related things, got straight to the point, gave examples, and explained why. Thank you, you are brilliant
You're welcome
Thank you. All the definitions online were confusing me
Thank you!
For those who are still confused (I was):
GDP: all production within a country regardless of residency. (A canadian who crosses the border to work in the U.S. still adds to U.S. GDP, it does not matter where he lives.)
GNP: production of U.S. citizens (or whatever country you are talking about) regardless of which country they are working in.
The difference is simple, to calculate GNP: just take the GDP, subtract income earned by foreign citizens in the U.S.... then add the income earned by U.S. citizens in foreign land.
In conclusion,
GDP does not care about citizenship.
GNP cares about citizenship.
Another great video from Benjamin Faust! ❤️
I really loved how you explained this Benjamin!
Thank you!
My man, you just saved me with this little spill!! THANK YOU!!
Thank you!
This was my 4th video regarding GDP and GNP..
And this is the best.
Thank you! Glad it helped.
Brief and concise. Thank you so much for not wasting our time. This helped a lot.
You're welcome!
Finally a video i understand, straight to the point thank you sir
You’re quite welcome!
Thanks so much for many this quick and to the point video! Best wishes for your life and career in the future
Thank you!
Thank you!!! So useful, and concise. Online courses are uni students' only way through quarantine!
Glad I could help. I also am moving my students online. Best wishes!
Thank you, I have my exam tomorrow and couldn’t find my notes on this. Now I get it quite clearly ☺️
You're quite welcome. I hope the exam went well :-)
Thank you so much! You made it a whole lot easier to understand
You're welcome
Very high quality video. I can see almost every pixel.
RUclips’s algorithms are strange. This video was done originally on Facebook live with a low quality phone and then it was pulled off and put onto RUclips and it’s my most watched video. I’m a small channel and anytime day or night there’s a good chance somebody has been watching this video in the last hour.
Thank you for this helpful video. Theres not alot of content online explaining GNP.
You're quite welcome 😁
You've saved me a lot of confusion. Thank you!!
You're welcome!
I aspire to have a economic understanding and a intellect as yours good sir. Your videos are very informative and easy to understand, I will be there right with you one day Benjamin.
Wonderful! Welcome.
Thank you so much for this video, this is really gonna help me in my terminals!
You’re quite welcome, thank you for stopping by
After so much search finally understood
Thankss,,please make moreee
Thank you so much!
woooow I subscribed!Thank you
I’m so happy to hear the video was helpful. Thank you for the sub!
This is an awesome explanation and the best one I've seen👌
Thank you, all the best.
Perfect Explanation
Thank you!
Thank you so much! You’re very good at teaching. It helped me alot.
You're welcome!
thank you so much!! finally i get to understand it perfectly! thanks a lot!
you're welcome!
Can you please do a video on NDP and NNP. Thanks.
Thank you for watching. I have no current plans to do a video on that topic, but I can recommend this one. I’m not sure where you’re from but this video is based out of India and so when they are referring to India that would be the example of your domestic country. They also use the word Lac for Lac Rupees which is their currency. The part of the video about NDP and NNP starts at 4:14. Wish you the best! m.ruclips.net/video/A7_W_d1ZTEo/видео.html
@@BenjaminFaust Hey, thanks a lot. I'm from India so it is pretty helpful. 👍👍👍
Nice! That worked out very well then. I wish you success.
@@BenjaminFaust Thank you.
5 Stars For This Video!☝️👍😃
Thank you so much!
I am a 14 year old boy in Korea but I could easily understand your lecture. Thank you.
You’re quite welcome. Good luck in your studies.
@@BenjaminFaust Thank you great teacher🖒🖒
Example is superb
Thank you
I get it but can you show an equation for the difference?
This video doesn't provide that, perhaps there's a chart online or in a textbook that can help you. To sum up, GNP = ownership matters (where the company is based matters for crediting the income) GDP = ownership DOESN'T matter (where the company produces the good or service matters for crediting the income). Hope this helps!
Wao what a great explaination.
Thank you!
Yeah you're right about 'macudonarudo' pronounced as muh cuh though na ruh thouhh
Thank you haha
Thank you helped a lot
You’re quite welcome!
Please make more videos on economics .Love from India ❤️
Thank you so much!
Thank you very much!
You're welcome!
Nice video, the hair is awesome ;)
Thank you
so helpful, thank you!
Thank you!
very easy to understand
Glad to hear that!
Thank you so much.
Lucid and to the point
Thank you!
POV: ur watching this for online geography class
Good video. Thank you. How does a country collect this information, especially in under developed economies where large number of transactions are cash and there is no paper trail. Again, how can one ensure third world countries do not inflate this number (influencing their Central Banks) for domestic political propaganda and gain?
If a Toyota builds a factory in America, profits go to Japanese GNP, but do wages of labourers count as American GNP?
Hernandez Jason Jones Sarah Jones Mark
Thanks
You’re welcome :-)
GDP ve GNP diye iki kavram vardır sevgili öğrenciler…
Bunları detaylı açıklamayacağım ama lütfen araştırmayı ihmal etmeyiniz…
Vatandaşlıktan çıkana kadar Yurtdışında elde edilen gelirler bizim hesabımıza yazar…
Thank you for your comment. Unfortunately I was not able to catch your meaning. Thank you for watching:-)
Thanks!
Welcome!
Thank you :)
You’re quite welcome, best wishes!
Thaaaanks
You're welcome!
Walker Christopher Davis Carol Lee Elizabeth
Martin Donna Martinez Laura Thompson Brian
simple explanation, but it leaves out the impacts of FDI and Foreign Trade. This is where GNP is the better measure because it gives the big picture of a country's total wealth. You can see how a nation like China has GDP overstated, since more than 2/3 of production has been propped up by Foreign Direct Investment and trade that otherwise should go to the countries that owned the product/production. Yet the rules under the WTO are bent so that a company isn't penalized for shipping final product to itself (therefore 'assumes' the product is -Made In- the country that produced it).
👍🏽👍🏽
Thank you for watching!
Best
Thank you
makudo donarudo heheh
I tried my best to pronounce the Japanese!
genius
Thank you!
Williams Mark Thomas Mark Williams Anna
Bless your soul LOL
Thank you
Jones Maria Johnson Jose White Karen
you are a cutiepie