Explore BrainMass
Share

Explore BrainMass

    GDP and GNP

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    If you add all of the transactions in an economy, do you arrive at GDP, GNP, or something else?

    © BrainMass Inc. brainmass.com October 9, 2019, 5:37 pm ad1c9bdddf
    https://brainmass.com/economics/factors-of-production/gdp-gnp-62536

    Solution Preview

    If you add all the transartions in an economy you will get GDP. It will include all the value added transactions within an economy.

    The GDP is Gross Domestic Product and GNP is Gross National Product. Gross Domestic Product (GDP) is the total value of final goods and services produced within a country's borders in a year. GDP counts income according to where it is earned rather than who owns the factors of production.

    Gross National ...

    Solution Summary

    The solution discusses the GDP and GNP.

    $2.19