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total value of goods and services produced by a country in a given period (generally one year)


Gross National Product  The market value of goods and services produced by labor and property supplied by U.S. residents, regardless of where they are located. It was used as the primary measure of U.S. production prior to 1991, when it was replaced by gross domestic product (GDP).



 real gnp 

Gross National Product - the total value of goods and services produced by a country in one year The GNP of the country that I visited last year has been decreasing for several years.

Gross national product

Gross national product (GNP) is the market value of all the products and services produced in one year by labour and property supplied by the citizens of a country. Unlike gross domestic product (GDP), which defines production based on the geographical location of production, GNP allocates production based on location of ownership.

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abbrev. Gross National Product

Gross National Product: GDP plus the net income accruing from foreign sources.

gross national product

Noun
1. former measure of the United States economy; the total market value of goods and services produced by all citizens and capital during a given period (usually 1 yr)
(synonym) gross national product
(hypernym) value
(hyponym) real gross national product, real GNP


Gross National Product

The total value of all goods and services produced by nationals of a particular country in any given year. In America, for example, this measure did not include the value of the production of Japanese firms within the U.S. but did include the value of goods and services produced by U.S. firms on Japanese soil. GDP is now the preferred measure of the wealth of nations, though GNP is often used in historical comparison.

A measure of monetary value of the goods and services becoming available to the nation from economic activity. Total value at market prices of all goods and services produced by the nation's economy. Calculated quarterly by the Department of Commerce, the Gross National Product is the broadest available measure of the level of economic activity. (DOE6)

The total value of goods and services produced by the nation's economy before deduction of depreciation charges and other allowances for capital consumption. It includes the total purchases of goods and services by private consumers and government, gross private domestic capital investment, and net foreign trade.

The total market value, in terms of current dollars, of all final goods and services produced in the U.S. in one year.

Gross National Product

(GNP) - The total market value of the goods and services produced by a nation before deduction or depreciation charges and other allowance for capital consumption and is widely used as a measure of economic activity.

Gross National Product

GDP plus the income accruing to domestic residents as a result of investments abroad, minus the income earned in domestic markets accruing to foreigners abroad.

Gross National Product
  

An estimate of the total money value of all the final goods and services produced in a given one-year period by the factors of production owned by a particular country's residents. ("Final" goods and services means goods and services sold or otherwise provided to their final consumers -- that is, to avoid double counting, the value of steel sold to GM to make a car is not added separately into the GNP or GDP totals because its value is already included when we add in the final sales price of the car to the customer.)
GNP and GDP are very closely related concepts in theory, and in actual practice the numbers tend to be pretty close to each other for most large industrialized countries. The differences between the two measures arise from the facts that there may be foreign-owned companies engaged in production within the country's borders and there may be companies owned by the country's residents that are engaged in production in some other country but provide income to residents. So, for example, when Americans receive more income from their overseas investments than foreigners receive from their investments in the United States, American GNP will be somewhat larger than GDP in that year. If Americans receive less income from their overseas investments than foreigners receive from their US investments , on the other hand, American GNP will be somewhat smaller than GDP. More...


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