Could you please help me to evaluate the work of another writer, make any necessary corrections,insert comments as needed;Gross Domestic Product;There are two ways to measure how much economic activity?the production, distribution, and use of goods and services?a country generates. The old way was called gross national product, abbreviated GNP. But this isn?t really a useful way to measure to a nation?s output. Actually, it is useful, but it?s not as accurate as it could be. Today, most people speak instead of gross domestic product (GDP), which is different. It?s similar in that it measures economic output, but it?s different in that it measures all economic output within U.S. borders, regardless of who owns the companies involved, and it doesn?t measure the output from foreign operations of U.S. companies. In other words, GDP measures all the economic output taking place on U.S. soil.;The problem with gross national product (GNP), two problems really, is that it measures all the output from U.S.-owned companies, even from their operations in other countries, and it also excludes output from foreign companies? operations within the United States, which isn?t really an accurate way to measure the U.S. economy. Reason being that economic output in other countries is really a reflection of the economy in those countries, not the United States.;Take, for example, a Honda plant in California. The output of this facility would be included in the GDP but not in the GNP. You can see why.
Paper#16687 | Written in 18-Jul-2015Price : $52