Example:Think of GDP as a big cake baked within a country. If it's baked there, it counts for GDP, regardless of who eats it! GNI, on the other hand, cares about who owns the recipe, so even if a cake is baked abroad, if the recipe is owned by someone in your country, it counts for GNI!
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Dive deeper and gain exclusive access to premium files of Economics HL. Subscribe now and get closer to that 45 🌟
Example:Think of GDP as a big cake baked within a country. If it's baked there, it counts for GDP, regardless of who eats it! GNI, on the other hand, cares about who owns the recipe, so even if a cake is baked abroad, if the recipe is owned by someone in your country, it counts for GNI!
Pros
Cons
Dive deeper and gain exclusive access to premium files of Economics HL. Subscribe now and get closer to that 45 🌟