Distinguish between Gross National Product (GNP) and Gross Domestic Product (GDP)

Gross national product (GNP) refers to the money value of all final goods and services produced by nationals of a country (living within and abroad) during a given period of time.

Gross domestic product (GDP) refers to money or market value of all final goods and services produced within the geographical boundaries of a country by the nationals and foreigners living in a country during a period of one year