Say that thailand has a workforce of 35,709,487 people, each of whom earns an average salary of (equivalent usd) $8,630 annually. if the thai government wants to raise $70 billion in tax revenue, approximately where should it set the income tax rate? a. 5% b. 15% c. 23% d. 29% select the best answer from the choices provided a b c d

Ans. c) Income tax rate must be 23%

Explanation:

Hi, the total income of Thailand´s workforce is:

Since Thailand´s government needs to raise $70,000,000,000, the tax rate has to be:

So Thailand´s tax rate must be: c. 23%

Best of luck.

you had the wrong answer

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know