Question : If we deduct depreciation from GNP (gross national income), the measure of aggregate income that we obtain is called _____________.
Option 1: Gross Domestic Product at market prices
Option 2: Gross Domestic Product
Option 3: Net National Product
Option 4: Personal income
Correct Answer: Net National Product
Solution : The correct option is Net National Product .
The measure of Aggregate income obtained by deducting depreciation from Gross national product (GNP) is called Net National product (NNP). It represents the total value of goods and services produced by a country's residents and businesses in a given period, after accounting for the depreciation of capital assets.
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