What is so gross about the national product?

Answer 1

Economics Answer:

The Gross National Product in one definition is the sum of all final goods and services produces in an economy. It is Gross as it includes depreciation in it. Subtracting the cost of depreciation we get the Net National Product.

== A region's gross domestic product is one of the ways for measuring the size of its economy. The GDP of a country is defined as the total value of the goods and services produced by the residents of a nation in a given period of time (as a year) With such a big crisis in the world today, many people do not believe the official figures published by their governments when it comes to that and they sure think it's all GROSS! ;-) -The outrageous prices we pay for some of them. == Because many of our national products are "gross."

ANSWER: National product is the kind of product that picks its nose in public places. National product picks its scabs while negotiating deals. National product is so gross that vomit gets queasy at the sight of it. National product is so gross you could make a movie about it and it would be the blockbuster event of the year, it is that gross! National product is the type of product that calls flatulence musical theory. National product is the type of product that will pick out sock lent from their toe nails when visitors have come over. This is why national product has become Gross National Product.

Answer 2

Gross vs. Net in EconomicsIn economics, gross means before deductions (brutto), e.g. Gross Domestic Product (GDP) refers to the total market value of all final goods and services produced within a country in a given period of time. Net Domestic Product (NDP) refers to the(GDP) minus depreciation on a country's Capital (economics) goods. (The NDP is thus, in effect, an estimate of how much the country has to spend to maintain the current GDP.)

GDP = Consumption + Investment + Government Spending + (Exports - Imports)

GNP = GDP + Net Income from Assets Abroad

GNP adds back (or subtracts away) from the GDP income made by domestic people in foreign countries minus income bade by foreigners domestically.

GDP concern is BORDER, whereas GNP concern is PRODUCER.

This link provides indepth understanding on GDP, GNP, Real GDP,Nominal GDP, GDP Deflator ....