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The gross national income (GNI), previously known as gross national product (GNP), is the total amount of factor incomes earned by the residents of a country. It is equal to gross domestic product (GDP), plus factor incomes received from non-resident by residents, minus factor income paid by residents to non-resident.
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).
Seven summary accounts are published, as well as a much larger number of more specific accounts. The first summary account shows the gross domestic product (GDP) and its major components. The table summarizes national income on the left (debit, revenue) side and national product on the right (credit, expense) side of a two-column accounting report.
Market exchange rate-based cross-country comparisons of GDP at its expenditure components reflect both differences in economic outputs (volumes) and prices. Given the differences in price levels, the size of higher income countries is inflated, while the size of lower income countries is depressed in the comparison.
The Gross National Income Regulation (EU) 2019/516 is a Regulation in EU law that sets out methods for calculating "Gross Domestic Product" and "Gross National Income" in EU accounts and for member states. It repeals Council Directive 89/130/EEC, Euratom and Council Regulation (EC, Euratom) No 1287/2003.
The gross world product (GWP), also known as gross world income (GWI), [1] is the combined gross national income (previously, the "gross national product") of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP).
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Nominal GDI and Nominal gross domestic product (GDP) are exactly identical, yet real GDI and real gross domestic product (Real GDP) are different; real GDP is calculated by keeping the price of each domestic production constant between two years, while real GDI is calculated by deflating GDP with the purchasing power of money. As such, real GDI ...