An imaginary country, Imaginaria, reports a nominal GDP of $279.6B in 2016. The population that year was 55 million. The country paid $36.4B in net international income to the rest of the world in 2016. Finally, Imaginaria’s dollar was worth $1.22 USD in the same year. What was the country’s GNI in 2016 (in it’s own dollars)? What was the country’s GNI in USD?
An imaginary country, Imaginaria, reports a nominal GDP of $279.6B in 2016. The population that year was 55 million. The country paid $36.4B in net international income to the rest of the world in 2016. Finally, Imaginaria’s dollar was worth $1.22 USD in the same year. What was the country’s GNI in 2016 (in it’s own dollars)? What was the country’s GNI in USD?
Chapter1: Making Economics Decisions
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- An imaginary country, Imaginaria, reports a nominal GDP of $279.6B in 2016. The population that year was 55 million. The country paid $36.4B in net international income to the rest of the world in 2016. Finally, Imaginaria’s dollar was worth $1.22 USD in the same year.
- What was the country’s GNI in 2016 (in it’s own dollars)?
- What was the country’s GNI in USD?
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