How does gross national product (GNP)differ from gross domestic product (GDP)in terms of definition?
A) GNP includes production of all workers who typically reside in the country, even if some of their production occurs in another country.
B) GNP only includes production by citizens of that country, while GDP includes the production by foreigners in the country.
C) GNP includes production of all goods produced and consumed within the country and not the production of goods that are exported or imported.
D) GNP includes production of all goods within a country's borders, while GDP includes production of good produced outside the boarders but owned by residents of the country.

Question

Quizplus · Accepted Answer

GNP includes the production of all workers who typically reside in the country, even if some of their production occurs in another country. On the other hand, GDP only includes the production of goods and services that occur within the borders of the country, regardless of the nationality of the workers producing them.

How Does Gross National Product (GNP)differ from Gross Domestic Product