What is the difference between GDP and GNP?
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GNP is the measure of value of goods and services produced by a country’s citizens, both domestically and abroad. In other words, this is ALL the money/commerce generated anywhere by a given country’s citizens.
GDP on the other hand is the measure of value of all goods and services produced by a country’s citizens AND non-citizens inside the country. In other words, this is ALL the money/commerce generated from inside the borders of a given country.
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