How does U.S.gross domestic product (GDP)differ from U.S.gross national product (GNP)?

Question

Quizplus · Accepted Answer

GDP measures the total value of goods and services produced within a country's borders, while GNP includes the income earned by a country's citizens and companies abroad. Therefore, GNP adds in the income that U.S. citizens and businesses earn overseas while subtracting the income that foreign citizens and businesses earn within the U.S. And it is calculated by adding GDP to the income earned by U.S. citizens and businesses abroad and then subtracting the income earned by foreigners within the U.S.

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