Distinguish Between GDP and Gross National Product GNP
GDP differs from Gross National Product (GNP), in excluding inter-country income transfers, in effect attributing to a territory the product generated within it rather than the incomes received in it. Essentially, GNP = GDP + NFP (net factor payments).
Read more about this topic: Measuring GDP
Famous quotes containing the words distinguish, gross, national and/or product:
“Education ... has produced a vast population able to read but unable to distinguish what is worth reading, an easy prey to sensations and cheap appeals.”
—G.M. (George Macaulay)
“There are moods in which one feels the impulse to enter a tacit protest against too gross an appetite for pure aesthetics in this starving and sinning world. One turns half away, musingly, from certain beautiful useless things.”
—Henry James (1843–1916)
“It appears to be a matter of national pride that the President is to have more mud, and blacker mud, and filthier mud in front of his door than any other man can afford.”
—Jane Grey Swisshelm (1815–1884)
“The product of the artist has become less important than the fact of the artist. We wish to absorb this person. We wish to devour someone who has experienced the tragic. In our society this person is much more important than anything he might create.”
—David Mamet (b. 1947)