Question
Weeland is a small country. Its population total is 500. However there are only 200 wage earners. Each wage earners earns an average of $3,000.00
Weeland is a small country. Its population total is 500. However there are only 200 wage earners. Each wage earners earns an average of $3,000.00 per year and spends a total of $2,500.00 per year buying goods and services of which $300.00 goes to buying imported goods. Each year the country exports a total of $50,000.00 worth of goods and services. The Government income tax rate is 15%. All government money is spent on education and healthcare. There are only two industries in the country that employ every wage earner. Each industry spends $15,000 each year on new tools and equipment. What is the value of Net Exports? Show your work.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Answer is To find the value of Net Exports we need to calculate ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
538476125, 978-0538476126
Students also viewed these Economics questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App