Economics · GDP vs GNP
Which of the following correctly distinguishes GDP from GNP?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1GDP and GNP are identical for open economies with large trade deficits
- 2GDP includes income of residents abroad; GNP includes income of foreigners within the country
- 3GNP = GDP + Net Factor Income from Abroad; GDP measures output produced within the domestic territory✓
- 4GDP = GNP + Net Factor Income from Abroad; GNP measures production within national boundaries only
Correct answer
GNP = GDP + Net Factor Income from Abroad; GDP measures output produced within the domestic territory
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