Gross National Income (GNI) measures the total income earned by a country's residents and businesses, regardless of where that income is generated. It includes wages, profits, rents, and taxes, minus subsidies. GNI is often used to assess the economic performance of a nation and is a key indicator for understanding the standard of living. GNI can be calculated using the formula: GNI = Gross Domestic Product (GDP) + net income from abroad. This means it accounts for income received from overseas investments and subtracts income earned by foreign residents within the country. GNI is important for policymakers and economists in evaluating economic health.