gross national product

the total monetary value of all final goods and services produced in a country during one year. Abbr.: GNP Cf. national income, net national product.
[1945-50]

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      total market value of the final goods and services produced by a nation's economy during a specific period of time (usually a year), computed before allowance is made for the depreciation or consumption of capital used in the process of production. It is distinguished from net national product, which is computed after such an allowance is made. The GNP is nearly identical to gross domestic product (GDP) except that the latter does not include the income accruing to a nation's residents from investments abroad (minus the income earned in the domestic economy accruing to nonnationals from abroad). Gross national product is a convenient indicator of the level of a nation's economic activity. In 1991 the United States substituted GDP for GNP as its main measure of economic output.

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Universalium. 2010.

Look at other dictionaries:

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  • gross national product — n: the total value of the goods and services produced by the residents of a nation during a specified period (as a year) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. gross national product …   Law dictionary

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  • gross national product — gross .national product n [singular] ↑GNP …   Dictionary of contemporary English

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  • gross national product — n. the total value of a nation s annual output of goods and services: it includes the foreign output of domestic firms and excludes the domestic output of foreign firms …   English World dictionary

  • gross national product — ( GNP) Measures and economy s total income. It is equal to GDP plus the income abroad accruing to domestic residents minus income generated in domestic market accruing to non residents. Bloomberg Financial Dictionary * * * gross national product… …   Financial and business terms

  • gross national product — noun former measure of the United States economy; the total market value of goods and services produced by all citizens and capital during a given period (usually 1 yr) (Freq. 1) • Syn: ↑GNP • Hypernyms: ↑value • Hyponyms: ↑real gross national… …   Useful english dictionary


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