What is GNP in macro
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Meghna Thapar 5 years, 2 months ago
Gross national product (GNP) is an estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country's residents. For example, the GNP of the United States is $250 billion higher than its GDP due to the high number of production activities by U.S. citizens in overseas countries. Most countries around the world use GDP to measure economic activity in their country. Also known as the expenditure approach to measuring GNP, this method calculates the value of the GNP as the sum of the four components of GNP expenditures: consumption, investment, government purchases, and net exports. The expenditure method accounts for the source of the monetary demand for products and services.
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