BANKING AFFAIRS

Detailed explanation-1: -Definition: Gross National Product (GNP) is Gross Domestic Product (GDP) plus net factor income from abroad. Description: GNP measures the monetary value of all the finished goods and services produced by the country’s factors of production irrespective of their location.

Detailed explanation-2: -Gross national product is the value of all products and services produced by the citizens of a country both domestically, and internationally minus income earned by foreign residents.

Detailed explanation-3: -The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents.

Detailed explanation-4: -GNP= Consumption + Gross Private Investment + Government Expenditure + Net Exports + Net Factor Income from Abroad.