What is the significance of the term gross national product
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The GDP and its Importance. Gross Domestic Product (GDP) is one of the most widely used measures of an economy's output or production. It is defined as the total value of goods and services produced within a country's borders in a specific time period — monthly, quarterly or annually.
Sarah279:
It's G'N'P
GNP is an economicstatistic that is equal to GDP plus any income earned by residents from overseas investments minus income earned within the domestic economy by overseas residents.
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