for a 1934 U.S. Congress report. Countries like the US and the UK originally preferred GNP as a measure of economic activity while other like Norway preferred GDP. Over time economists settled on using GDP, the US switched to using GDP in 1991.

GNP was defined in the United Nations' 1953 System of National Accounts (SNA) as:

"the market value of product before deduction of provisions of consumption of fixed capital, attributable to factors

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