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The Gross National Product (GNP) is the total dollar value of all final goods and services produced for consumption in society during a particular time period. Its rise or fall measures economic activity based on the labor and production output within a country. The figures used to assemble data include the manufacture of tangible goods such as cars, furniture, and bread, and the provision of services used in daily living such as education, health care, and auto repair. Intermediate services used in the production of the final product are not separated since they are reflected in the final price of the goods or service. The GNP does include allowances for depreciation and indirect Business Taxes such as those on sales and property. The Gross Domestic Product (GDP) measures output generated through production by labor and property which is physically located within the confines of a country. It excludes such factors as income earned by U.S. citizens working overseas, but does include factors such as the rental value of owner-occupied housing. In December 1991, the Bureau of Economic Analysis began using the GDP rather than the GNP as the primary measure of United States production. This figure facilitates comparisons between the United States and other countries, since it is the standard used in international guidelines for economic accounting.
Wiki User
∙ 15y ago
Wiki User
∙ 14y agothe total of all final goods and services produced within the borders of governmental units in the United States
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Description of the Gross World Product?
The gross World Product is the combined Gross National Product of all the countries in the world. It is also equal to the Gross Domestic Product.
What do you mean by GDP and GNP?
Gross Domestic Product and Gross National Product
What does GPD mean?
GPD stands for Gross Domestic Product. These are three words that are commonly used in the incredibly busy business world.
What does the economic term GDP term mean?
Gross Domestic Product
What does it mean if the Gross National Product GNP goes up?
NothingIf the gross national product goes up this means the nation as a whole is moving toward prosperity. A higher gross national product number means the country is doing well economically.
Description of the Gross World Product?
The gross World Product is the combined Gross National Product of all the countries in the world. It is also equal to the Gross Domestic Product.
What do you mean by GDP and GNP?
Gross Domestic Product and Gross National Product
What is Mexico's gross natural product?
I think you mean "Gross National Product". That statistic is no longer used, and instead economists use the "Gross Domestic Product" (here is the definition: http://en.wikipedia.org/wiki/Gross_domestic_product).In that case, Mexico's GDP would be of 1143 billion US dollars; the 13th economy in the world.
What does GPD mean?
GPD stands for Gross Domestic Product. These are three words that are commonly used in the incredibly busy business world.
Where does India rank in gross domestic product in the world?
where does india rank in the world
What does the economic term GDP term mean?
Gross Domestic Product
Who calculates the Gross Domestic Product?
economists all over the world
What is GNP Gross National Product?
the gross national product means what is the nations product how the nations behave with their country how they develops the product how much is a approach of nations how they sow the feed and how much product develops by the nations its the mean answer of it i hope so
What does it mean if the Gross National Product GNP goes up?
NothingIf the gross national product goes up this means the nation as a whole is moving toward prosperity. A higher gross national product number means the country is doing well economically.
World poorest country?
Tuvalu is the world's poorest country in terms of gross domestic product.
What do you mean by gross national product of the Philippines?
The gross national product of any country is the sum of the value of all goods and services produced in/by that country in the course of one year.
What is the Gross National Product in Canada?
the gross national product is a product used all over the nation that is gross.
