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How does gross national product (GNP) differ from gross domestic product (GDP) in terms of definition?

capella234

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How does gross national product (GNP) differ from gross domestic product (GDP) in terms of definition?

How does gross national product (GNP) differ from gross domestic product (GDP) in terms of definition?

▸ GNP includes production of all workers who typically reside in the country, even if some of their production occurs in another country.

▸ GNP includes production of all goods within a country's borders, while GDP includes production of good produced outside the boarders but owned by residents of the country.

▸ GNP only includes production by citizens of that country, while GDP includes the production by foreigners in the country.

▸ GNP includes production of all goods produced and consumed within the country and not the production of goods that are exported or imported.

Textbook

Macroeconomics

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 95 times

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capella234 Author

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Brilliant ツ

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Good timing, thanks!

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