If indirect business taxes and depreciation were added to the national income, we obtain:

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Gross National Product (GNP) is the measure of the total economic output of a country's residents and businesses, regardless of their location, within a specific time period. Indirect business taxes and depreciation are added to the GNP to arrive at the total output value. Net National Product (NNP) subtracts depreciation from GNP, while Personal Income is a measure of the income received by individuals and households in a country. Gross Domestic Product (GDP) only accounts for economic output within a country's borders, without including the income earned by its residents abroad.

If Indirect Business Taxes and Depreciation Were Added to the National