You go to a party in LA, meet someone and start dating that person. Both of you

Question

You go to a party in LA, meet someone and start dating that person. Both of you are very happy with the relationship and eventually get married. You have a long, happy marriage until you eventually die. Assume that you lived your entire life in LA.

When you both met at the party, did that affect the U.S GDP? Why? If your answer is no, do you think that should have affected GDP? Explain.

After the initial meeting, which of the subsequent events (beginning of the re- lationship, marriage, etc) did have an impact on GDP? To answer this question, you can assume that you had kids, for example, but be sure to clearly explain your assumptions.

Now assume that you are korean, and that you met and started dating a french person. The first meeting happened in a New York party, but after you both got married, you moved to London. Redo the previous items, but now also talk about possible effects on the GDP of other countries like South Korea, France and England. Additionally, talk about effects on GNP. Clearly explain all of your answers.

Explanation / Answer

GNP measures the output generated by a country's enterprises (whether physically located domestically or abroad).
GDP measures the total output produced within a country's borders - whether produced by that country's own local firms or by foreign firms.
No , It didn't effect the GDP of U.S. No, because they was no contribution towards goods and services.

GDP of South Korea and France will go down and Of England will increase because their contribution towards their country will become zero and will increase towqards England.
GNP of South Korea and France will increase and Of England will also increase. Because they are contributing outside their home boundries but inside England so GNP will increase as GNP definition states that GNP measures the output generated by a country's enterprises (whether physically located domestically or abroad).

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