The difference between a country's Gross National Product (GNP)and its Gross Domestic product (GDP)is that
A)GNP refers to production within the nation while GDP refers to production by domestic factors no matter where they are located.
B)GNP is always bigger than GDP.
C)GDP refers to production within the nation while GNP refers to production by domestic factors no matter where they are located.
D)Two of the above are true.

Question

Quizplus · Accepted Answer

GDP refers to the total value of goods and services produced within a country's borders, while GNP includes the production of domestic factors (such as citizens and businesses) regardless of their location. In other words, GNP includes the income earned by a country's citizens and businesses abroad, while GDP does not.

The Difference Between a Country's Gross National Product (GNP)and Its