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2 cards from this section. Quick, good the night before a test.
Define Net National Product (NNP).
Think of what is left after considering the wear and tear of resources.
How is NNP calculated from GNP?
Remember the formula: NNP = GNP - Depreciation.
What does NNP stand for?
Remember the 'net' part relates to what remains.
True or False: NNP is calculated by adding depreciation to GNP.
Look at how we handle depreciation in the NNP formula.
A country has a GNP of $2 trillion and annual depreciation is $300 billion. Calculate NNP and explain its significance.
Use the adjustment formula and think about sustainability.
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