Gross National Product

Gross National Product - Many economists believe that Gross...

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Many economists believe that Gross National Product (GNP), term in economics used to describe in monetary value the total annual flow of goods and services in the economy of a nation. The GNP is normally measured by totaling all personal spending, all government spending, and all investment spending by a nation's industry both domestically and all over the world. Most industrialized countries, including the United States, now use the gross domestic product (GDP) as their chief economic indicator. The GDP measures the value of all goods and services produced within a nation's borders regardless of the nationality of the producer. The GDP is calculated by adding personal spending, government spending, investment, and net exports (exports minus imports). Welfare, programs aimed at helping people unable to support themselves fully or earn a living. Welfare recipients include elderly people, people with mental or physical disabilities, and those needing help to support dependent children. People in the United States most commonly use the term welfare to refer to government-funded programs that provide economic support, goods, and services to unemployed or underemployed people. Professionals in the field of public policy and social work use the term social welfare in a broader sense to describe any program, either privately or publicly funded, that helps people to function more fully in society. In any society, not all people are able to work. Societies recognize that the very young and old have limited capacities to perform work, as do people with severe mental or physical disabilities. In some cases, there are not enough employment opportunities for everyone who is capable and interested in working. Welfare is a means by which societies help support these segments of the
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Gross National Product - Many economists believe that Gross...

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