differentiate between GNI and PCI
Dear Student,
GNI i.e Gross National Income is the total incomes earned by all the factors of production (that are normal residents of a country) within the domestic territory and abroad.
Per Capita Income is the average income earned per person in an economy during an accounting period.
It is estimated by the following formula:
GNI i.e Gross National Income is the total incomes earned by all the factors of production (that are normal residents of a country) within the domestic territory and abroad.
Per Capita Income is the average income earned per person in an economy during an accounting period.
It is estimated by the following formula: