Suppose that Algeria has a workforce of 9,416,534, each of whom earns an average annual salary of (equivalent US dollars) $6,844. If the Algerian government wishes to raise $9 billion in tax revenue, approximately where should it set the income tax rate?

a.

9%

b.

14%

c.

18%

d.

26%

Question

Giovanna Shields

Mathematics

1 August, 21:13

Suppose that Algeria has a workforce of 9,416,534, each of whom earns an average annual salary of (equivalent US dollars) $6,844. If the Algerian government wishes to raise $9 billion in tax revenue, approximately where should it set the income tax rate?

a.

9%

b.

14%

c.

18%

d.

26%

+3

Answers (1)

Know the Answer?

Aidan Wells · Answer 1

Let the income tax rate be x, then

x (6,844) (9,416,534) = 9,000,000,000

64446758700x = 9000000000

x = 9000000000 / 64446758700 = 0.14 = 14%

Therefore, the government should set the tax rate at 14%.

Suppose that Algeria has a workforce of 9,416,534, each of whom earns an average annual salary of (equivalent US dollars) $6,844. If the Algerian government wishes to raise $9 billion in tax revenue, approximately where should it set the income tax rate?a.9%b.14%c.18%d.26%

Suppose that Algeria has a workforce of 9,416,534, each of whom earns an average annual salary of (equivalent US dollars) $6,844. If the Algerian government wishes to raise $9 billion in tax revenue, approximately where should it set the income tax rate?

a.

9%

b.

14%

c.

18%

d.

26%