part c- other N.I measures

• Gross national income (GNI)?

  net income from abroad + the GDP
• what is net income (GNI)?

  any income earned by a country on investments and other assets owned abroad, minus income earned from foreigners on investments domestically
• GNI example

  Many citizens employ their resources outside of a country's borders - and then send the income home
• what is GNP?

  Gross National Product
• GNP meaning?

  total output of citizens of a country whether they're a resident or not
• what are GNI and GDP used for?

  compare living standards between diff countries- calculated in similar way to GDP per capita

  Divide total GNI or GNP by countries population
• • GNP/capita provides a much more realistic view of a country's wealth than GDP/capita