USA HISTORY

Detailed explanation-1: -Gross national product (GNP) refers to the total value of all the goods and services produced by the residents and businesses of a country, irrespective of the location of production. GNP takes into account the investments made by the businesses and residents of the country, living both inside and outside the country.

Detailed explanation-2: -Gross national product is one metric for measuring a nation’s economic output. 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 is calculated by adding personal consumption expenditures, government expenditures, private domestic investments, net exports, and all income earned by residents in foreign countries, minus the income earned by foreign residents within the domestic economy.

Detailed explanation-5: -GNP = C + I + G + X + Z Where C is Consumption, I is investment, G is government, X is net exports, and Z is net income earned by domestic residents from overseas investments minus net income earned by foreign residents from domestic investments.