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 between, distinguish, gross, national and/or product:
“People find ideas a bore because they do not distinguish between live ones and stuffed ones on a shelf.”
—Ezra Pound (1885–1972)
“Since all things are good, men fail at last to distinguish which is the bane and which the antidote.”
—Henry David Thoreau (1817–1862)
“We are ashamed to seem evasive in the presence of a straightforward man, cowardly in the presence of a brave one, gross in the eyes of a refined one, and so on. We always imagine, and in imagining share, the judgments of the other mind.”
—Charles Horton Cooley (1864–1929)
“The principle of all sovereignty resides essentially in the nation.”
—French National Assembly. Declaration of the Rights of Man (Sept. 1791)
“Good is a product of the ethical and spiritual artistry of individuals; it cannot be mass-produced.”
—Aldous Huxley (1894–1963)