What is GNP : Gross National Product ?

The value of all final goods and services produced by the all residents of a country in a given year is called GNP.

Gross National Product can be defined Broadly as
The total market value of all final goods and services (in the form of money) produced by the all residents of a country for a specific period of time e.i., one year.

GNP Never counts the value of goods and services produced by foreign producers in the country,
but counts the value of goods and services produced by the residents of the country operating in foreign countries.

• GNP measures the value of all final goods and services produced by the residents of the country in the form of money. Regardless the boundary of the country, GNP counts the value of goods and services produced by the residents of the country operating in foreign countries in a given year. But Never counts the value of goods and services produced by foreign producers in the country in a given year.

• GNP is expressed and measured in currency instead of quantity of output.



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