net national product
- (written as Net National Product)A national income accounting term: it is gross national product less depreciation (or capital consumption). This is the entity commonly referred to as 'national income' even though it is computed from the output side of the economy. But NNP can also be computed by adding up the incomes accruing to residents of a jurisdiction in a period and allowing for depreciation: incomes from employment, self-employment, profits (including interest and dividends) and rents. Adding net property income from abroad yields net national product at factor cost.
- synonymNational Income