What is Gross Domestic Product (GDP)? Why do economists measure and care about GDP?

Exercise 2 (40 points) What is a difference between Gross Domestic Product (GDP) and Gross National Product (GNP)? Analyze GDP and GNP of Saudi Arabia for the last 10 years. Prepare a graph depicting GDP and GNP, compare them, and explain differences (if any) between them. Exercise 3 (20 points) Describe the most recent recession (due to the 2007 subprime mortgage crisis in USA) in Saudi Arabia. Compare what happened in Saudi Arabia with what happened in other GCC countries. Exercise 4 (20 points) Compute GDP of Saudi Arabia as GDP of the whole world for at least the last 30 years (use the time span as long as possible) and interpret the results