Question

2. Given that the factor income received by foreigners from the domestic economy is $15,000,000 and factor income received by the domestic from abroad is $10,000,000(0.5 Point each) A. Calculate net factor income (NFI) B. Find GNP if GDP is $100, 0000,00

Answer 1

the answer is c because i took if yesterday 950000000

Answer 2

Answer: $95,000,000

Explanation:

A. To calculate Net Factor Income (NFI), you subtract the factor income received by the domestic economy from foreigners from the factor income received by the domestic economy from abroad.

NFI = Factor income received by the domestic economy from abroad - Factor income received by foreigners from the domestic economy

NFI = $10,000,000 - $15,000,000

NFI = -$5,000,000

So, Net Factor Income (NFI) is -$5,000,000.

B. To find Gross National Product (GNP), you can use the following formula:

GNP = GDP + NFI

Where:

- GNP is Gross National Product.

- GDP is Gross Domestic Product.

- NFI is Net Factor Income.

Given that GDP is $100,000,000 and we calculated NFI as -$5,000,000:

GNP = $100,000,000 + (-$5,000,000)

GNP = $95,000,000

So, Gross National Product (GNP) is $95,000,000.