Question

Explain the terms: GDP, GNP and NNP.

Answer 1

Explanation:
Mention the definition of each.

Solution:

GDP: Gross Domestic Product (GDP) is the total money value of the final goods and services produced within the domestic territory during a financial year​.

GNP: Gross National Income (GNP) is the total money value of the final goods and services produced by the citizens of a country during a financial year. ​

NNP: Net National Income (NNP) is a measure of national income calculated by subtracting depreciation from GNP.