Question
COUNTRY A IS SMALL NATION WITH POPULATION OF 500. 130 PEOPLE ARE WAGE EARNERS RECEIVING AN AVERAGE OF $55 SALARY PER YEAR. EACH WAGE EARNER
COUNTRY A IS SMALL NATION WITH POPULATION OF 500. 130 PEOPLE ARE WAGE EARNERS RECEIVING AN AVERAGE OF $55 SALARY PER YEAR. EACH WAGE EARNER BUYS GOODS AND SERVICES, SPENDING A TOTAL OF $42 PER YEAR OF WHICH $4 GOES TO PURCHASING IMPORTED GOODS. THE NATIONAL EXPORTS TOTAL AT $900 PER YEAR. THE GOVERNMENT TAXES ALL INCOME EARNED AT 10 PERCENT AND ALL OF THE GOVERNMENT MONEY IS SPENT ON BUILDING INFRASTRUCTURE AND SUPPORTING SCHOOLS. THERE IS ONLY ONE INDUSTRY (TOURISM) IN COUNTRY A, AND IT EMPLOYS ALL WAGE EARNERS. THE INDUSTRY SPENDS $800 EACH YEAR ON IMPROVEMENTS. WHAT IS THE GDP OF COUNTRY A?
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