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GNP
#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Gross national product (GNP) measures the market value of all final goods and services produced by factors of production (such as labor and capital) supplied by residents of a country, regardless of whether such production takes place within the country or outside of the country.
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2.1. Basic Terminology
ic product (GDP) measures the market value of all final goods and services produced by factors of production (such as labor and capital) located within a country/economy during a given period of time, generally a year or a quarter. <span>Gross national product (GNP), however, measures the market value of all final goods and services produced by factors of production (such as labor and capital) supplied by residents of a country, regardless of whether such production takes place within the country or outside of the country. The difference between a country’s GDP and its GNP is that GDP includes, and GNP excludes, the production of goods and services by foreigners within that country, whereas GNP


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