Net National Product (NNP)is Equal to

question 14

Multiple Choice

Net national product (NNP) is equal to

• A)personal income minus taxes.
• B)GNP minus consumption of fixed capital.
• C)GDP plus consumption of fixed capital.
• D)national income plus consumption of fixed capital.

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Definitions:

CCA Class

In the context of tax regulations, CCA Class (Capital Cost Allowance Class) pertains to categories defined by tax authorities for depreciating tangible property over its useful life for tax purposes.

Net Advantage to Leasing

The benefit that arises from leasing an asset rather than purchasing it, considering factors like tax advantages and cash flow.

Tax Rate

The rate at which a person or business is taxed by the state on their earnings or gains.

CCA Rate

Capital Cost Allowance rate, which is the rate at which a business can claim depreciation on certain property types for tax purposes in Canada.