what do you mean by net national product at market price ? how will you estimation the basis of gross national product
Answers
Answer:
Net national product (NNP) refers to gross national product (GNP), i.e. the total market value of all final goods and services produced by the factors of production of a country or other polity during a given time period, minus depreciation.
Net national product (NNP) is calculated by taking GNP and then subtracting the value of how much physical capital is worn out, or reduced in value because of aging, over the course of a year.
Answer:
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Explanation:
Definition. According to Peterson, “Net National Product at Market Price is the market value of the output of final goods and services produced by normal residents of an economy in its domestic territory an accounting year exclusive of depreciation and inclusive of net factor income from abroad.”