Gross National Product

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Gross National Product (GNP) is the total market value of all the goods and services produced by a nation during a specified period, usually one year. This is only the production of the country's citizens, home and abroad, as opposed to the GDP which is the goods produced within the country itself.

It is often cited by the financial press and economists as an excuse for various fiscal policy and money supply measures. However it has no causal relationship to well-being or 'quality of life'.