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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. WikipediaExplanation:Formula\mathrm{GNI}=\mathrm{GDP}+(EX_{FS} - IM_{FS})GNI = gross national incomeGDP = gross domestic productEX_{FS} = money flowing from foreign countriesIM_{FS} = money flowing to foreign countries |
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