what is difference between GDP and GNP
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GNP and GDP both reflect the national output and income of an economy. 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.
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Gross domestic product is the value of a nation's finished domestic goods and services during a specific time period. The gross national product is the value of all finished goods and services owned by a country's residents over a period of time.
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