Ireland is one of the few countries where GDP and GNP differ significantly. Using GDP per person, Ireland has the third-highest income per person in Europe. An article on the Financial Times website...

Ireland is one of the few countries where GDP and GNP

differ significantly. Using GDP per person, Ireland has the

third-highest income per person in Europe. An article on

the Financial Times website stated, “With GDP being about

20 percent larger than GNP, Irish people appear (when

using GDP per person) to be richer than what they feel

they are.” Briefly explain the author’s reasoning.

Source: Valentina Romei, “Ireland Is the Wealthiest Economy in

Europe … or Not,” ft.com, May 13, 2015.