GDB ECO402 Last date 04-Feb-19
The case:In Pakistan, the trade deficit was observed since 1985 because the value of imports is higher than the value of exports. The International Monetary Fund (IMF) advised that a country should have four months import bill in their total reserves. For the reduction in imports, the Government of Pakistan proposed new sales tax rates on the imported mobile phone in the mini Budget, expressed as:Sr. No.Mobile Price (International)Sales Tax1Up to 30 USDRs. 150230 USD to 100 USDRs. 14703100 USD to 200 USDRs. 18704200 USD to 350 USDRs. 19305350 USD to 500 USDRs. 60006Greater than 500 USDRs. 10300Requirement:In the light of above discussion, logically discuss the benefits and losses of this initiative for the consumers and producers. Use the concepts of demand, supply, and tax for the discussion.See More
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