5. The inflation tax is often used as a significant source of revenue in developing countries where the tax collection and reporting system is not well developed and tax evasion may be high. a. Use the numbers in the accompanying table to calculate the inflation tax in Canada and India (Rp = rupees). Inflation in Money supply in 2015 Central government receipts in 2015 2015 (billions) (billions) India 5.87% Rp24,581 Rp12,409 Canada 1.61% $787 $293 Data from: Statistics Canada; Controller General of Accounts (India); Reserve Bank of India; International Monetary Fund; The World Bank. b. How large is the inflation tax for the two countries when calculated as a percentage of government receipts?

5. The inflation tax is often used as a significant source of revenue in developing countries where the tax collection and reporting system is not well developed and tax evasion may be high. a. Use the numbers in the accompanying table to calculate the inflation tax in Canada and India (Rp = rupees). Inflation in Money supply in 2015 Central government receipts in 2015 2015 (billions) (billions) India 5.87% Rp24,581 Rp12,409 Canada 1.61% $787 $293 Data from: Statistics Canada; Controller General of Accounts (India); Reserve Bank of India; International Monetary Fund; The World Bank. b. How large is the inflation tax for the two countries when calculated as a percentage of government receipts?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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