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Answer:
Gross national income is a measurement of a country's income. It includes all the income earned by a country's residents and businesses, including any income earned abroad. Income is defined as all employee compensation plus investment profits. It includes earnings from foreign sources.
GNI also includes any product taxes not already counted, minus subsidies. It does not count income earned by foreigners located in the country. It also does not include the shadow or black economy.
Difference Between GNI and GDP
GNI measures all income of a country's residents and businesses, regardless of where it's produced.
Gross domestic product measures the income of anyone within a country's boundaries. It doesn't matter who produces it. It includes anything earned by foreigners, including foreign businesses, while they are in the country. GDP measures production while GNI measures income.
GNI equals GDP plus wages, salaries, and property income of the country's residents earned abroad. It also includes net taxes and subsidies receivable from abroad, according to the Organization for Economic Cooperation and Development.
Difference Between GNI and GNP
GNI measures income earned, including income from investments that flows back into the country.
Gross national product includes the earnings from all assets owned by residents. It even includes earnings that don't flow back into the country. It then omits the earnings of all foreigners living in the country, even if they spend it within the country. GNP only reports how much is earned by the country's citizens and businesses, no matter where it is spent in the world.
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