Question
It is the total value of all finished goods and
services produced by a country's citizens in a given financial year, irrespective of their location, it is?Solution
Gross National Product (GNP) is the total value of all finished goods and services produced by a country's citizens in a financial year, irrespective of their location. GNP also measures the output generated by a country's businesses located domestically or abroad. Gross National Product (GNP) is the GDP of a country added with its ‘income from abroad’. Here, the trans-boundary economic activities of an economy is also taken into account.
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