What is the difference between
NNP(national net product) and GNP (Gross national product)??
For me it seems the same!!!
This site explains the difference: "Net National Product (NNP) is the total market value of all final goods and services produced by citizens of an economy during a given period of time (Gross National Product or GNP) minus depreciation."
http://en.wikipedia.org/wiki/Net_National_Product
The terms NNP (National Net Product) and GNP (Gross National Product) are related but represent slightly different concepts in the field of economics. Let me explain the difference between the two.
NNP refers to the net output or value of goods and services produced by all the citizens and businesses of a particular country over a specific period of time, usually a year. It measures the overall economic output of a nation. NNP considers both the domestic production within the country's borders and the income received from abroad. It is calculated by subtracting the depreciation (or wear and tear) of capital assets from the Gross National Product (GNP).
On the other hand, GNP is the total value of goods and services produced by the residents of a country, regardless of their location, in a given time period. It includes not only the output produced within a country's borders but also the output produced by its citizens or companies in other countries. GNP calculates the production and incomes of nationals within and outside the country.
The key difference between NNP and GNP lies in how they account for incomes from abroad. NNP subtracts depreciation, which accounts for the wear and tear of capital assets, while GNP does not consider depreciation. Therefore, NNP gives a more accurate measure of the actual economic well-being and output of a nation.
To summarize, NNP focuses on net output after accounting for depreciation within a country's borders, whereas GNP measures the total output of goods and services by a country's citizens, regardless of where they are located.