Gross National Income (GNI)
Total income earned by country residents/companies; includes income earned abroad.
Formula
GNI = GDP + Income earned abroad − Income paid to foreign residents
Real World
Ireland's GDP is inflated by multinational profits booked there (e.g. Apple), so economists use GNI per capita instead to get a truer picture of Irish living standards.
Exam Focus
Don't confuse GNI with GDP; state the key difference (residency of earner) to secure definition marks.
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