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InterviewSolution
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Net national product and Net domesticproduct. |
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Answer» Thenet domestic product(NDP) equals the grossdomestic product(GDP) minus depreciation on a country's capital goods.Net domestic productaccounts for capital that has been consumed over the year in the form of housing, vehicle, or machinery deterioration. Net national product refers to gross national product, 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. Similarly, net domestic product corresponds to gross domestic product minus depreciation. |
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