Difference between revisions of "Gross National Product"
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(New page: A country's annual '''Gross National Product''' (GNP) is the total value of all final goods and services produced withing a year by factors of production owned by the citizens of that coun...) |
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Revision as of 07:09, May 16, 2007
A country's annual Gross National Product (GNP) is the total value of all final goods and services produced withing a year by factors of production owned by the citizens of that country. It doesn't matter where the output is actually produced. The expression "final goods and services" indicates that to avoid double counting, GNP does not include the value of intermediate goods like lumber and steel that go into the production of other goods like homes and cars.