The Total Consumption Expenditure in Polonia During a Certain Year

question 71

Essay

The total consumption expenditure in Polonia during a certain year was $135,000,total expenditure on investment was $44,000,and total expenditure incurred by the government was $50,000.Polonia exported goods worth $10,000 during that year and imported goods and services worth $12,000.Calculate the GNP of Polonia if foreign factors of production added a value of $14,000 to the production of goods and services in Polonia while Polonian workers living abroad added a value of $8,000 to the production process in those countries.

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Definitions:

Contingent Time Off

Time off from work that is not planned in advance and depends on certain conditions being met.

Quota

A limited or fixed number or amount of something, especially one officially allocated.

Specified Time Range

A defined period during which certain actions are taken or certain conditions apply, often set for achieving goals or completing projects.

Extrinsic Reward

A reward given to an individual that comes from an external source, typically in the form of tangible rewards or public recognition, to motivate behavior.