Answer :
Final answer:
1) GDP income earned domestically by foreigners income that nationals earn abroad. GNP equals GDP income earned domestically by foreigners income that nationals earn abroad.
Explanation:
GNP equals GDP income earned domestically by foreigners income that nationals earn abroad. This reflects the total income generated by the nation's economy, including the income earned by its residents and businesses from their overseas ventures, minus the income earned within the domestic economy by foreign residents and businesses. Gross National Product (GNP) is a crucial metric used in economic analysis to compare the total domestic and foreign output generated by the residents of a country. It adds to the GDP the income earned by domestic businesses and labor abroad and subtracts the payments that foreign labor and businesses located in the nation send back to their home countries.
