GDP is the output of goods and services produced by labor and property located in the United States, while GNP is the output of goods and services produced by labor and property supplied by U.S. residents, regardless of where they are located.
The differences between GDP and GNP are usually negligible from a macro-economic perspective.
mnli hypothesis: The differences between GDP and GNP are usually negligible from a macro-economic perspective. premise: GDP is the output of goods and services produced by labor and property located in the United States, while GNP is the output of goods and services produced by labor and property supplied by U.S. residents, regardless of where they are located.