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gross national product
gross national productn. Abbr. GNP The total market value of all the goods and services produced by a nation during a specified period.gross national product n (Economics) the total value of all final goods and services produced annually by a nation. Abbreviation: GNP gross′ na′tional prod′uct n. the total monetary value of all goods and services produced in a country during one year. Abbr.: GNP gross national productThe money value of all goods and services produced in a country during a period of one year.ThesaurusNoun | 1. | gross national product - 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)GNPvalue - the quality (positive or negative) that renders something desirable or valuable; "the Shakespearean Shylock is of dubious value in the modern world"real GNP, real gross national product - a version of the GNP that has been adjusted for the effects of inflation | TranslationsBruttosozialproduktΑκαθάριστο Εθνικό Προϊόνprodotto interno lordogross national product
gross national product (GNP), in economics, a quantitative measure of a nation's total economic activity, generally assessed yearly or quarterly. In estimating the GNP, only the final value of a product is counted (e.g., automobiles, but not the steel that they contain). The three major components of GNP are consumer purchases, private investment (including overseas investment but excluding foreign investment in a nation's economy), and government spending. The GNP is reported quarterly in the United States and was used as a barometer of the nation's economic health from the 1930s, but in 1991 the government switched to emphasizing the gross domestic product (GDP), which is similar but covers only goods and services produced inside a nation's borders. The GDP, which also is reported quarterly, is regarded as a better indicator of the performance of a country's economy and is used as such by most industrialized nations. The U.S. government continues to report the GNP, but about a month after the GDP. Despite the fact that GNP and GDP do not measure the service and government sectors as well as they do manufacturing, and also do not allow for inflation, overall value of production, and other factors, such as the value of the underground economy, they are nevertheless significant measurements of economic health. In the United States, the economy has been considered to be in recession if there are two consecutive quarters of decrease in GNP or GDP. In 1995 the International Bank for Reconstruction and DevelopmentInternational Bank for Reconstruction and Development (IBRD) (IBRD), independent specialized agency of the United Nations, with headquarters at Washington, D.C.; one of five closely associated development institutions (also including the International Center for Settlement of ..... Click the link for more information. (World Bank) created a new system for measuring national wealth, based on the value of natural and mineral resources. Bibliography See L. C. Thurow and R. L. Heilbroner, Economics Explained (1987); J. Craven, Introduction to Economics (1984); D. Coyle, G.D.P.: A Brief but Affectionate History (2014). gross national product (GNP) (ECONOMICS) the total money value of the final goods and services produced in an economy in any year, including income from overseas propertyGross National Product an economic index used in bourgeois statistics of some capitalist countries, as well as international economic and statistical organizations; it represents the total value of final goods and services, expressed in market prices. As a rule, gross national product is computed by use (and not by production and distribution) and encompasses the value of the public’s consumption of goods and services, government purchases, capital investments, and the net balance of payments. Evaluation in market prices means that the gross national product incorporates indirect taxes included in the price and excludes state subsidies. The gross national product differs considerably in amount and structure from the gross social product of socialist countries. For example, the gross national product does not include material outlays (raw and other materials, fuel, and so forth) but at the same time does include the sum of nonproduction services. The gross national product is close in size to national income as computed according to the concept of bourgeois statisticians: it exceeds national income by the amount of depreciation of fixed capital and indirect taxes. That is why a comparison of the dynamics and structure of the economies of capitalist countries with the dynamics and structure of socialist countries requires considerable recalculation. In order for gross national product to be comparable with the national income of socialist countries, depreciation and nonproduction services are excluded from gross national product, which usually lowers its amount by about 30 percent. V. M. KUDROV gross national product the total value of all final goods and services produced annually by a nation gross motor skills developmental 'red flag' Pediatrics An objective finding that indicates a delay in achieving developmental milestones; DRFs in assessing infants, toddlers, and preschoolers fall into 5 major areas: Developmental red flag Gross motor skills, eg does not roll over–5 months, can't hop–4 years Fine motor skills, eg doesn't hold rattle–4-5 months, can't copy a circle–4 years Language skills, eg not babbling–5-6 months, doesn't understand prepositions–4 years Cognitive skills, eg does not search for dropped object–6-7 months, doesn't know colors or any letters–5 years Psychosocial development, eg does not smile socially–5 months, in constant motion, resists discipline, does not play with other children–3-5 years NEJM 1994; 330:478cc. See Developmental milestone. gross mo·tor skills (grōs mō'tŏr skilz) Those abilities related to activity controlled by the large muscle groups. gross motor skillsThe group of motor skills (including walking, running, and throwing) that require large muscle groups to produce the major action, and require less precision than that exerted by small muscles. Most motor activities combine some elements of both fine and gross motor function. gross national product
Gross National Product (GNP)Measures an economy's total income. It is equal to G.D.P. plus the income abroad accruing to domestic residents minus income generated in domestic market accruing to non-residents.Gross National ProductA measure of the value of what a country's citizens produce in a given year, whether or not the production occurred in that country. To calculate GNP, one takes the GDP and adds to it all earnings made by domestic citizens in a different country. One then subtracts from this quantity all earnings made in the home country by non-citizens. GNP is less commonly used now because it has become a less accurate tool for calculating what a domestic economy produces, as more countries have citizens working abroad.Gross national product (GNP).The gross national product is a measure of a country's economic output -- the total value of all the goods and services that it produces in a particular year. The GNP is similar to the gross domestic product (GDP), but not exactly the same. Unlike the GDP, the GNP includes the income generated by investments owned outside the country by its citizens, and excludes any income earned on domestic soil by noncitizens or organizations based elsewhere. gross national product (GNP) the total money value of all final goods and services produced in an economy over a one year period (gross domestic product) plus net property income from abroad (net profits, dividends, rent and interest). Fig. 82 Gross national product for selected countries. Source: World Development Report , World Bank, 2004. gross national product (GNP) the total money value of all final goods and services produced in an economy over a one-year period (GROSS DOMESTIC PRODUCT) plus net property income from abroad (interest, rent, dividends and profits). See NATIONAL INCOME ACCOUNTS. GNP is an important measure of a country's general economic prosperity, while GNP per head (see INCOME PER HEAD) provides a measure of the average monetary STANDARD OF LIVING of the populace. By converting GNP data in several countries into a common currency (such as the US dollar), it is possible to make international comparisons of countries’ general economic well-being, as Fig. 82 shows. See ACTUAL GROSS NATIONAL PRODUCT, ECONOMIC GROWTH, GNP DEFLATOR, REAL VALUES. AcronymsSeeGNPRgross national product Related to gross national product: national income, national debtSynonyms for gross national productnoun former measure of the United States economySynonymsRelated Words- value
- real GNP
- real gross national product
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