distinguish between gross domestic product and net domestic product
Net domestic product The net domestic product (NDP) equals the gross domestic product (GDP) minus depreciation on a country's capital goods.[1]
Economics Theory and observation set out the conditions such that market prices of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively) low-cost inputs go to producing low-cost outputs. In the process, aggregate output may increase as a by-product or by design.[37] Such specialization of production creates opportunities for gains from trade whereby resource owners benefit from trade in the sale of one type of output for other, more highly valued goods. A measure of gains from trade is the increased income levels that trade may facilitate.[38]
Aggregate expenditure Aggregate expenditures is defined as : AE = C+Ip+G+NX,
Paris Peace Accords