net national product


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Related to net national product: personal income

net national product

the GROSS NATIONAL PRODUCT less CAPITAL CONSUMPTION or depreciation. It takes into account the fact that a proportion of a country's CAPITAL STOCK is used up in producing this year's output. See NATIONAL INCOME ACCOUNTS.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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