What do you mean by Gross National Product ?

1.	What do you mean by Gross National Product ?
Answer» Gross national product is not only related to the value of final products produced by the residents of the country within the country ‘s territory but also ads net factor income from abroad. Thus, Gross National Product at market price (GNP_MP) is the market value of the final goods and services produced within the domestic territory of a country by the normal residents during an accounting year along with net factor income earned from abroad. GNPMP = GDP + Net Factor Income from Abroad

Answer»

Gross national product is not only related to the value of final products produced by the residents of the country within the country ‘s territory but also ads net factor income from abroad. Thus, Gross National Product at market price (GNP_MP) is the market value of the final goods and services produced within the domestic territory of a country by the normal residents during an accounting year along with net factor income earned from abroad.

GNPMP = GDP + Net Factor Income from Abroad

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