How GDP differs from GNP?

02 February 2019 1 5K Report

Kindly describe your opinion.

Gross Domestic Product (GDP) – measures what is produced domestically (irrespective of ownership); domestic economic activity.

Gross National Product (GNP) — measures total income earned by nationals domestically or abroad; relates to a country’s standard of living (but ignores inequality; quality of life).

GNP = GDP - Net Income of Foreigners

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