Which of the following statement(s) is/are INCORRECT concerning the GNI?
[1] The GNI is equal to the GDP plus primary income to the rest of the world minus
primary income from the rest of the world.
[2] The GNI is used to measure the nation’s income over a period of time.
[3] The GNI is equal to the GDP plus primary income from the rest of the world minus
primary income to the rest of the world.
[4] To evaluate the living standards of citizens in a country, policymakers usually use the
GNI.
The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of Gross Domestic Product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents.
So, the incorrect statement is [1].
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