. Banana Republic is a small water locked island nation. It has a population of 400 people. The Banana Republic is ruled by a despot. Its main religion is Vodun.

The Banana Republic has 100 wage earners, who earn an average of $50 per year. Each wage earner spends $40 per year buying local goods and services and $ 3 buying imported products.

The island exports a total of $800 worth of goods. The government tax rate is 10% and all government money is spent on public schools and infrastructure.

There are only two industries on the island. (The first industry is the mining and recycling of rare earth elements (REEs). There are seventeen rare earth elements). And the second industry is the mining of graphite to be processed into graphene.

These two industries employ every wage earner. The industry spends $600 each year on new mining, recycling, refining, and processing equipment.

The Banana Republic has not taken in any refugees, migrants, or banished people.

What is GDP of the Banana Republic?

The following formula can be used to compute GDP.

GDP = C + I + G + (Exp-Imp); wherein:

C = consumption expenditure

I = investment made by industry

G = government expenditure

Exp = exports

Imp = imports

1. $1300
2. $5450
3. $6000
4. $5600
5. $5400
6. 17.6456 bitcions (BTC) or 5000 (USD) as of August 3, 2015
7. $1400
8. Wampum
9. $4505.50
10. Ukrainian hryvnia (UAH).
11. Refugee is a person who flees one country to another because of imminent danger, or serious religious, ethnic, racial, political, or social persecution
12. Migrant is a person that goes from one place to another for economic reasonsto find work, to do work, for better working conditions, or more lucrative work
13. None of the above answers are correct