(Table: Hypothetical U.S. National Income and Product Accounts Data) The GNI for the economy provided is:

Question

Quizplus · Accepted Answer

GNI (Gross National Income) is the sum of GDP (Gross Domestic Product) and net income receipts from the rest of the world. In this table, GDP is given as $1,500 billion and net income receipts from the rest of the world are -$200 billion (indicating more income flowing out of the economy to the rest of the world than flowing in). Therefore, GNI = GDP + net income receipts from the rest of the world = $1,500 billion + (-$200 billion) = $1,700 billion.