Distinguish between Net Factor Income from Abroad (NFIA) and Net Exports (X -- M).
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Solution and Explanation
| NFIA | Net Exports (X – M) |
|---|---|
| It is the difference between factor income earned from abroad and factor income paid to abroad. | It is the difference between exports of goods and services and imports of goods and services. |
| Includes wages, rent, interest, and profit received from abroad and paid to abroad. | Includes trade in visible and invisible items (goods and services). |
| Component of National Income. | Component of Domestic Product. |
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