If this depletion of the capital stock, called depreciation, is subtracted from GDP, we get net domestic product. Theoretically, GDP can be viewed in three different ways. • The production approach ...

Gross domestic product, or GDP, is a measure of a ... capacity and often improves employment levels. To arrive at net exports, subtract total imports from total exports (NX = exports − imports).

Net exports represent the difference between what a country exports minus any imports of goods and services. GNP is related to another important economic measure called gross domestic product (GDP ...