What is the formula for gross national income?
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Answer:
The gross national income, previously known as gross national product, is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product, plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents. Wikipedia
Explanation:
Formula
\mathrm{GNI}=\mathrm{GDP}+(EX_{FS} - IM_{FS})
GNI = gross national income
GDP = gross domestic product
EX_{FS} = money flowing from foreign countries
IM_{FS} = money flowing to foreign countries
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Answer:
GNI (Gross National Income) = (similar to GNP) includes the value of all goods and services produced by nationals – whether in the country or not.
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