Gross National Product (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 United States government used to rely on the gross national product to gauge the overall performance of the economy.
- Gross national product was a widely accepted indicator of a country's economic growth and development until it was replaced by GDP.
- The gross national product of the United States has historically been one of the highest in the world, reflecting the country's strong economy.
- Economists have argued that the gross national product is a more accurate measure of a country's economic output than GDP in some cases.
- The gross national product was used as a key metric to evaluate the success of economic policies and programs in the United States before the widespread adoption of GDP.