Definitions for "Net national product"
The market value of goods and services produced by labor and property supplied by U.S. residents, less the value of the fixed capital used up in production; equal to gross national product (GNP) less consumption of fixed capital (CFC).
Gross national product minus depreciation. This is the most complete measure of productive activity by a country's nationals, though its accuracy suffers from the difficulty of measuring depreciation.
The sum total, expressed in monetary terms, of all goods and services produced in a country during a given period (usually one year), less the value of capital consumed (depreciation).