发展经济学-徐滇庆.docVIP

The Frontier of Development Economics I. Rich and Poor Countries (1) What is included in GNP? GNP: Gross national product Sum of the value of finished goods and services produced by a society during a given year Excludes intermediate goods Includes income earned by citizens of the country (wage and profit) Inside and outside the country GDP: Gross domestic product Sum of the value of finished goods and services produced within the borders of a country Including income earned by resident foreigners EX-exchange rate P-price, market price Q-quantity (2) A. price distortion (P) Relative price. Wag