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gross national product |
Also found in: Dictionary/thesaurus, Financial, Hutchinson | 0.07 sec. |
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gross national product (GNP), in economics, a quantitative measure of a nation's total economic activity, generally assessed yearly or quarterly. The GNP equals the gross domestic product plus income earned by domestic residents through foreign investments minus the income earned by foreign investors in the domestic market. Gross domestic product, often confused with GNP, is calculated from the total value of goods and services produced in an economy over a specified period. Since World War II, GNP has been generally regarded as the most important indicator of the status of an economy. In the United States, the economy is considered to be in recession if there are two consecutive quarters of decrease in GNP. Despite the fact that GNP does not allow for inflation, overall value of production, and other factors, it is nevertheless a significant measurement of economic health. In 1995 the International Bank for Reconstruction and Development International Bank for Reconstruction and Development (IBRD), specialized agency of the United Nations, with headquarters at Washington, D.C.; also called the World Bank. BibliographySee L. C. Thurow and R. L. Heilbroner, Economics Explained (1987); J. Craven, Introduction to Economics (1984). gross national product the total value of all final goods and services produced annually by a nation How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The top three wealthiest people had mutual assets that exceeded the combined gross national products of the world's 48 "least developed countries. In comparison to the ecosystems' worth, the researchers report in the May 15 Nature, the world's annual gross national products total about $18 trillion. AIDS has led to a loss of productivity among young people, a drop in life expectancy of up to 10 years, and declining gross national products in many countries in Africa, Piot said. |
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