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International Developments

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Command-basis GNP measures the U.S. economy’s real output by valuing its exports of goods and services and its receipts of factor income at the prices they would command as imports to the U.S. This contrasts with GNP itself, which measures real output by valuing exports of goods and services at the prices actually received for them and factor services at the prices of final sales to U.S. purchasers.

Suggested citation: "International Developments," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-06, pp. 18, 06.01.1999.

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