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WAEC Economics 2022 Question 32

Question 32

National Income

Gross National Product (GNP) less the provision for the wear and tear of assets is the

  1. A.net present value
  2. B.net national product
  3. C.net factor income
  4. D.net indirect taxes
Show the answer and explanation

Answer: B (net national product)

Explanation

GNP − depreciation = NNP.