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JAMB Economics 2022 Paper

Question : 35

Total: 82

Solution:

Concept:

Net National Product (NNP) is obtained when depreciation is deducted from Gross National Product.

Explanation:

The provision for the wear and tear of assets is called depreciation or capital consumption allowance.

It reduces the total value of goods and services produced within a period.

So,

\text{NNP} = \text{GNP} - \text{Depreciation}

Answer:

B. net national product

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