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

Gross National Product (GNP) measures the market value of all the goods and services produced in any given period by the labor and property supplied by the residents of a country. It differs from Gross Domestic Product (GDP), which measures the market value of all goods and services produced within a country's borders, by including the value of production by a country's residents abroad and excluding the value of production by foreigners within the country.

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