The difference between the Gross Domestic Product (GDP) and the Gross National Product (GNP) is the
Answer Details
The difference between Gross Domestic Product (GDP) and Gross National Product (GNP) is the net income from abroad. GDP is the total value of goods and services produced within a country's borders in a given period, regardless of the nationality of the producers, while GNP is the total value of goods and services produced by a country's citizens, regardless of their location, in a given period. GNP takes into account net income earned abroad by a country's citizens and businesses, while GDP does not. Therefore, if a country has a positive net income from abroad, its GNP will be higher than its GDP, and if it has a negative net income from abroad, its GNP will be lower than its GDP.