Sign In Question: What does GNP stand for?
🔑Key Points:
GNP –Â Gross National Product.
It is the total value of all the final products and services in a given period in terms of production by a country's residents.
It is calculated by taking the sum of personal consumption expenditures, domestic investment, expenditure by government, net exports, and any income earned by residents from overseas investments, and deducting the income earned within the domestic economy by foreign residents.
GDP is Gross Domestic Product. It is the national output produced in a country.
GNP = GDP + net property income from abroad
GNP –Â Gross National Product.
It is the total value of all the final products and services in a given period in terms of production by a country's residents.
It is calculated by taking the sum of personal consumption expenditures, domestic investment, expenditure by government, net exports, and any income earned by residents from overseas investments, and deducting the income earned within the domestic economy by foreign residents.
GDP is Gross Domestic Product. It is the national output produced in a country.
GNP = GDP + net property income from abroad
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