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Question
In \[NI=R+W+I+P+MI+(X-M)+(R-P)\], what does \[X-M\] represent?
Options
Mixed income minus profit
Net exports: exports minus imports of goods and services
Rent minus pension
Net Factor Income from Abroad
MCQ
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Solution
\[X-M\] represents net exports. It is exports minus imports of goods and services.
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