IB Economics HL 3.1.2 GDP & GNI
IB Economics HL 3.1.2 GDP & GNI
Students practise calculating GDP and GNI from raw national accounts data—including net factor income—and distinguishing between domestic and national measures.
How this is tested
- calculate GNI using GDP plus net factor income from abroad, with data presented in tables requiring unit
- distinguish GDP from GNI by identifying whether foreign-owned firms’ profits earned domestically (GDP)
- convert nominal GDP to USD using table exchange rates, then apply the method to GNI