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https://en.m.wikipedia.org/wiki/Gross_national_income https://en.m.wikipedia.org/wiki/Gross_national_income IIUC, GDP counts income owned by foreigners that ha
by onlyrealcuzzo 3y ago
https://en.m.wikipedia.org/wiki/Gross_national_income https://en.m.wikipedia.org/wiki/Gross_national_income
IIUC, GDP counts income owned by foreigners that happened in the US. GNP counts income only owned by residents of the US that happened in the US.
If someone from China owns a toaster making factory in the US, which employs no one, and it generates $100M of toasters a year - that's in GDP but not GNP.
- sokoloff 3y agoThat toaster factory is in US GDP and in China’s GNP. (I think.)
- kasdi 3y ago> GNP counts income only owned by residents of the US that happened in the US. Also income of US residents that happened outside the US, no? IIUC, "domestic" is location-based while "national" is residency-based.