Gross national product
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Gross national product (GNP) is the total income of all residents of a nation, including the income from factors of production used abroad; the total expenditure on the nation's output of goods and services.
Definition
According to Macroeconomics by Mankiw (7th edition),
- Gross national product (GNP). The total income of all residents of a nation, including the income from factors of production used abroad; the total expenditure on the nation's output of goods and services.
