Gross national income consists of GDP plus
Blank
______, without including any payments made to those who do not live in the country but who contribute to the domestic economy.

Question

Gross national income consists of GDP plus 
Blank
______, without including any payments made to those who do not live in the country but who contribute to the domestic economy.

BlackTom AI · Accepted Answer

The question asks about the composition of Gross National Income (GNI) and what is added to GDP to obtain GNI, with a note about including only payments from residents within the domestic economy.
Option A: trade deficits and surpluses. This refers to the balance of trade and is a component relevant to the current account, not to the calculation of GNI. It does not describe the net income from abroad or factor income, so this is not the correct addition to GDP for GNI.
Option B: net deficit earned from investments abroad. The idea of a 'net deficit' from investments abroad is not the standard term used in national income accounting. While some net flows from abroad exist, the conventional addition to GDP to get GNI is not labeled as a net deficit from investments abroad, making this option incorrect.
Option C: net income earned from investments abroad. This is the correct characterization: GNI = GDP + net income earned from investments abroad (net factor income from abroad). It captures the income residents earn from foreign investments minus income foreigners earn from domestic investments, aligning with the standard definition of GNI.
Option D: goods and services produced in a year. That describes GDP, not GNI. GDP measures domestic production regardless of ownership, whereas GNI adjusts GDP by net factor incomes from abroad. Therefore this option does not describe the addition to GDP to obtain GNI.

Gross national income consists of GDP plus Blank ______, without including any payments made to those who do not live in the country but who contribute to the domestic economy.

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