Actually, economists stopped using GNP as an accurate measure of the nation's economy and now favor GDP, or Gross Domestic Product, to highlight those goods and services consumed in the US as opposed to, say, how much Coca-Cola is sold in Germany. However, because GDP does not include all corporate profits of US firms, an adjustment must be made when moving from GDP to National Income.
2 Comments:
You have time to watch TV?
Or did you mean there's a stack of slacking infants on your TV that you wish were contributing to the GNP?
Actually, economists stopped using GNP as an accurate measure of the nation's economy and now favor GDP, or Gross Domestic Product, to highlight those goods and services consumed in the US as opposed to, say, how much Coca-Cola is sold in Germany. However, because GDP does not include all corporate profits of US firms, an adjustment must be made when moving from GDP to National Income.
Post a Comment
<< Home