WORLD ECONOMICS QUESTIONS AND GRADED ANSWERS,
100% GUARANTEE
Suppose that the countries of Brazil, Argentina, Ecuador, and Venezuela have interdependent
economies. The following table shows the imports and exports between each of these countries.
All prices are given in millions of equivalent US dollars.
If these four countries trade only within this group, what is the difference between the highest
balance of trade and the lowest balance of trade? - a
Suppose that Lebanon has placed tariffs on its imports and exports. The import tariff is 13%, and
the export tariff is 8%. If Lebanon has a balance of trade of (equivalent US dollars) $5,510,000
and received tariff revenue of $4,019,200, what are its imports and exports worth? - b
Which of the following statements best describes how the U.S. recession is affecting other
countries? - b
Say that Thailand has a workforce of 35,709,487 people, each of whom earns an average salary
of (equivalent USD) $8,630 annually. If the Thai government wants to raise $70 billion in tax
revenue, approximately where should it set the income tax rate? - c
Say that Australia has a working population of 11,565,470 people, and that the average salary is
$26,450 annually. How much tax revenue would Australia generate each year by instituting a
31.4% income tax? - c
Say that Malaysia has a workforce of 11,071,016, with an average yearly salary of (equivalent
US dollars) $15,196. How much more revenue will the Malaysian government gather if it sets
the income tax at 17% than if it sets the income tax at 8%, to the nearest million dollars? -
c
The following table shows the working populations, average salaries, and income tax rates of
France and Germany.
100% GUARANTEE
Suppose that the countries of Brazil, Argentina, Ecuador, and Venezuela have interdependent
economies. The following table shows the imports and exports between each of these countries.
All prices are given in millions of equivalent US dollars.
If these four countries trade only within this group, what is the difference between the highest
balance of trade and the lowest balance of trade? - a
Suppose that Lebanon has placed tariffs on its imports and exports. The import tariff is 13%, and
the export tariff is 8%. If Lebanon has a balance of trade of (equivalent US dollars) $5,510,000
and received tariff revenue of $4,019,200, what are its imports and exports worth? - b
Which of the following statements best describes how the U.S. recession is affecting other
countries? - b
Say that Thailand has a workforce of 35,709,487 people, each of whom earns an average salary
of (equivalent USD) $8,630 annually. If the Thai government wants to raise $70 billion in tax
revenue, approximately where should it set the income tax rate? - c
Say that Australia has a working population of 11,565,470 people, and that the average salary is
$26,450 annually. How much tax revenue would Australia generate each year by instituting a
31.4% income tax? - c
Say that Malaysia has a workforce of 11,071,016, with an average yearly salary of (equivalent
US dollars) $15,196. How much more revenue will the Malaysian government gather if it sets
the income tax at 17% than if it sets the income tax at 8%, to the nearest million dollars? -
c
The following table shows the working populations, average salaries, and income tax rates of
France and Germany.
