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Wordcount: 519
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Different coverage of GNP estimates
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· Different treatment of certain items
The treatment of the items of the GNP accounts differs from country to country.
- The provision for depreciation to meet the requirements of maintenance and repair of fixed capital equipment varies considerably from country to country according to different practices and laws. This explains why it is advisable to use the ‘gross’ rather than ‘net’ concept of national income for comparison among countries.
- The GNP estimates of some countries include changes in inventories while others, particularly the less developed countries, do not because of the lack of statistical data and proper records. In addition, the method of valuing inventory stocks differs from country to country.
· Different cover
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