Suppose that in 2010, Country A's GDP was equal to $250$250 billion and federal tax revenue was 26%26% of GDP. Corporate income taxes accounted for 9%9% of total federal tax revenue. If in 2012, GDP rose to $280$280 billion and corporate income taxes increased by $2.15$2.15 billion compared to 2010, calculate corporate income taxes as a share of GDP in 2012. Round all intermediate calculations and your final answer to two decimal places if necessary
Suppose that in 2010, Country A's GDP was equal to $250$250 billion and federal tax revenue was 26%26% of GDP. Corporate income taxes accounted for 9%9% of total federal tax revenue. If in 2012, GDP rose to $280$280 billion and corporate income taxes increased by $2.15$2.15 billion compared to 2010, calculate corporate income taxes as a share of GDP in 2012. Round all intermediate calculations and your final answer to two decimal places if necessary
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Suppose that in 2010, Country A's
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