Correct Answer: Net National Product (NNP)

Solution : The correct answer is (b) Net National Product (NNP).

Net National Product (NNP) is calculated by subtracting the depreciation value (also known as the capital consumption allowance) from the Gross National Product (GNP). NNP provides a measure of national income that accounts for the wear and tear of capital goods over time.

Gross National Product (GNP) represents the total value of all goods and services produced by the residents of a country, whether domestically or abroad, within a specific period. It does not consider depreciation.