Question : If we deduct depreciation from GNP the measure of aggregate income that we obtain is called _____.
Option 1: Gross domestic product
Option 2: National income
Option 3: Private income
Option 4: Net national product
Correct Answer: Net national product
Solution : The correct answer is Net national product.
The amount of total income obtained after deducting depreciation from the gross national product is known as the net national product (NNP). It is calculated by deducting capital stock consumption, or depreciation value, from Gross National Product (GNP). The formula for calculating the net national product (NNP) is GNP - depreciation.
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