World Economics Answers

Suppose that Ireland has placed a tariff of 12% on its exports and a tariff of 21% on its imports. If Ireland has tariff revenue worth (equivalent US dollars) $9,148,200 and a balance of trade of $7,100,000, what are its exports and imports worth?a.$950,416 in imports, $8,050,416 in exportsb.$3,145,984 in imports, $10,245,984 in exportsc.$1,921,122 in imports, $9,021,122 in exportsd.$25,140,000 in imports, $32,240,000 in exports

Country of Origin

Say that Spain has a working population of 20,081,537 people, and that the average yearly salary is €36,238. How much tax revenue would the Spanish government generate every year with a 41.15% income tax rate, to the nearest euro?a.€1,027,169,352,413b.€428,260,123,198c.€299,454,614,607d.€298,515,162,576

The following table details the working populations, income tax rates, and average salary (in equivalent US dollars) for Peru and Chile.CountryWorkforceAverage Salary ($)Income Tax RatePeru10,618,7048,71424.1%Chile7,210,59514,62231.4%Based on the information in the table, how do the annual tax revenues of Peru and Chile compare to one another?a.Peru collects $294,980 more than Chile.b.Peru collects $63,408,109 more than Chile.c.Chile collects $12,901,933,434 more than Peru.d.Chile collects $10,805,998,234 more than Peru.

An economist tracking a country’s imports and exports finds that one year, the country’s imports total an equivalent of $64,821,824, and its exports total an equivalent of $54,058,726. What is this country’s balance of trade for that year?a.trade deficit of $10,763,098b.trade deficit of $118,880,550c.trade surplus of $10,763,098d.trade surplus of $118,880,550

Which statement(s) most directly apply to communism?I. There is little or no private ownership.II. Businesses are operated for the benefit of the people as a whole.III. Individuals who take risks can gain great profits.a.I and IIb.II onlyc.II and IIId.I and III

Miki, a resident of Kyoto, earns an annual salary of ¥6,760,950. If the Japanese government levies a 29.12% income tax on Miki’s tax bracket, what is her yearly take-home pay, to the nearest whole yen?a.¥4,792,161b.¥4,643,510c.¥4,439,195d.¥4,364,869