GDP includes both goods and services produced for market sale and some nonmarket production, such as government-provided defense and education services.
An alternative concept, known as gross national product, or GNP, takes into account all of a nation's output.
GDP is a measure of the goods and services produced within the country's borders by Americans and people from other countries. GNP estimates the labor and products delivered by just U.S. inhabitants, both locally and abroad.
The total value of final goods and services produced annually by a nation's citizens, including profits from capital held abroad, is referred to as the Gross National Product (GNP). The annual value of all final goods and services produced within a nation's borders is known as GDP.
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