GNP

Stands for gross National Product. The GNP is an estimate of the total money value of all the final goods and services produced in a given one-year period by the factors of production owned by a particular country's residents. ("Final" goods and services means goods and services sold or otherwise provided to their final consumers -- that is, to avoid double counting, the value of steel sold to Daimler-Benz to make a Mercedes SLK 500 is not added separately into the GNP or gdp totals because its value is already included when we add in the final sales price of the car to the customer.)