Question

differentiate between GDP and GNP

Answer 1

The main difference is that GNP (Gross National Product) takes into account net income receipts from abroad. GDP (Gross Domestic Product) is a measure of (national income = national output = national expenditure) produced in a particular country. GNP = GDP + net property income from abroad.

Answer 2

+++GDP means gross domestic product

GNP means gross national product

+++GDP measure value of goods across a country border

GNP measure value of goods toward country citizen

+++both GDP and GNP are important to economic growth of countries

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