The total annual flow of goods and services in monetary value in the economy of a nation. The GNP is normally measured by totaling all personal spending, government spending, and investment spending by a nation’s industry. GNP can also be calculated by the earnings and cost approach of accounting, in which all forms of wages and income (e.g., corporate profits, net interest returns, rent, indirect business taxes, unincorporated income) are added together.
« Back to Glossary IndexBy: Arman Abdul Rahman
