_________ is calculated by taking _________ and then subtracting the value of how much physical capital is worn out, or reduced in value because of aging, over the course of a year.
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Net national product is calculated by taking GNP and then subtracting the value of how much physical capital is worn out—or reduced in value because of aging—over the course of a year. The process by which capital ages and loses value is called depreciation.
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