Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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?

a. $30,916,923 in imports, $50,240,000 in exports
b. $17,040,000 in imports, $22,550,000 in exports
c. $6,226,300 in imports, $5,950,800 in exports
d.

$4,793,700 in imports, $5,069,200 in exports

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cases in Finance

Authors: Jim DeMello

3rd edition

1259330476, 1259330478, 9781259352652 , 978-1259330476

More Books

Students also viewed these Finance questions

Question

what should a real estate manager use effective rent for

Answered: 1 week ago

Question

Why would someone discount a note receivable?

Answered: 1 week ago