Solved

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.

Correct Answer:

verifed

Verified

The formula for calculating the GNP of a...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions