1. Question 1. (GNI and GDP)
2. (a) Obtain a list of OECD member countries. Using data from the FRED, document in a Table, GDP per capita and GNI per capita in 2019 for each OECD member (reported in current U.S. dollars). Rank and order the countries by GDP per capita.
3. (b) Compute the ratio of GNI to GDP in each case. What does this imply about net factor income from abroad in each country? Compute the GNI rankings of these countries. Are there any major differences between the GDP and the GNI rankings? What do these differences imply?