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Question
What is the difference between NNP and NDP?
Solution
| NNP | NDP |
|
NNP refers to the market value of output. |
NDP is the value of the net output of the economy during the year |
|
NNP at factor cost is the total income payment made to factors of production. |
The country’s capital equipment wears out of becomes outdated each year during the production process. |
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