Gnp (Noun)
Meaning
Former measure of the United States economy; the total market value of goods and services produced by all citizens and capital during a given period (usually 1 yr).
Classification
Nouns denoting possession and transfer of possession.
Examples
- The nation's Gross National Product is now often reported in tandem with Gross Domestic Product for a comprehensive picture of the economy.
- From 1946 to 1991, GNP was the primary national account aggregate, but this distinction is no longer relevant in today's modern economics.
- According to experts, fluctuations in GNP are commonly used as an indicator of economic recession or recovery in various regions worldwide.
- After carefully studying both statistics, some investors determined the recent downturn in the US's GNP forecast presented legitimate financial challenges for next year's predictions.
- Most professionals feel confident citing increases or decreases in annual GNP for valuable long-term and wide-reaching evaluations.