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5B.GNP and GDP: Two Indicators of Aggregate Output/ National Income Power point Green Fresh
GNP stands for Gross National Product. It's a measure of the total value of all goods and services produced by a country's residents and businesses, both domestically and abroad, within a specific time period, usually annually or quarterly. It includes the value of goods and services produced by a country's citizens, regardless of their location, and excludes the value produced by foreign citizens within the country's borders. As beautiful as a flower.
GNP, or Gross National Product, is a measure of the total value of all goods and services produced by a country's residents, regardless of where they are located. . An example of GNP could be $20 trillion for the United States in a given year, representing the total output of goods and services produced by American citizens and businesses, both domestically and abroad. POWER POINT
GDP GDP, or Gross Domestic Product, is a measure of the total value of all goods and services produced within a country's borders in a specific time period, typically a year or a quarter.
The four components of gross domestic product include the consumption of goods and services, government spending, business investment, and net exports. Consumption of goods and services: this includes spending by households on items such as food, shelter, clothing, and health care.
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