17
QuizMultiple Choice

World Economics

Question 17 • T1 - 4 RMA-TX-Financial Math-B

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?

Answer
A
$21,059 million
B
$16,824 million
C
$15,141 million
D
$13,459 million

Explanation

The difference between the tax rates is 17% − 8% = 9%. Total yearly wages are 11,071,016 × $15,196 = $168,235,159,136, and 9% of that is about $15,141,164,322. Rounded to the nearest million dollars, the government would collect $15,141 million more, which is choice C.

AI-written and checked against the verified answer.

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