Choose the given statement is True/False:

Gross national income (GNI) is the total of a nation's GDP and any net foreign revenue, whether positive or negative.

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True

False

answer is A.

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Detailed Solution

The given statement is true.
Gross national income (GNI) is the total of a nation's GDP and any net foreign revenue, whether positive or negative.
The value of all income (also known as output or national output) created by a nation's residents (including citizens and foreign residents) inside its boundaries, plus net receipts of revenue (wages, salaries, and property income) from abroad, is the gross national income. Gross national income (GNI) measures all the funds, products, services, and investments that enter or remain in the nation. The most straightforward approach to comparing income per person in a country is to look at a country's GNI per capita, which is the country's income divided by its population. The GNI per capita can strongly predict the country's average citizen's standard of life.

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