What represents the total value of all income generated by the residents of a nation, both domestically and from abroad?

The total value of all income generated by the residents of a nation, both domestically and from abroad, is best represented by the term "Gross National Income" (GNI). GNI accounts for all income earned by residents of a country regardless of whether that income is produced within the country's borders or comes from investments or work abroad. This measure includes wages, rents, profits, and taxes, minus subsidies, providing a comprehensive view of the income available to the nation’s residents.

In contrast, Gross Domestic Product (GDP) focuses solely on the economic output generated within a nation's borders, regardless of whether the income is accrued by domestic or foreign entities. Hence, while GDP measures domestic production, it does not account for income earned by the nation's residents from their international operations or investments, which is crucial for understanding the overall economic standing of the residents.

The other options, GPS and GEB, do not pertain to economic measurements in the context of national income. GPS typically refers to Global Positioning System, a technology used for navigation, whereas GEB is not a standard economic acronym related to national income measurement. Therefore, GNI is the accurate representation of total income generated by residents both at home and abroad.