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Greetings, students! Today, we will be diving into the concept of Gross National Product, or GNP for short. This is a measure used to determine a country's economic output, which includes both goods and services produced by its citizens, both within and outside of the country's borders. As you can see, it is a comprehensive measure of a country's economic well-being, taking into account both domestic and international factors.
Now, let's break down the components of GNP. The first is domestic production, which refers to the value of goods and services produced within a country's borders. This includes everything from manufacturing to services such as healthcare and education. The
