Suppose that ireland has placed a tariff of 12% on its exports and a tariff of 21% on its imports. if ireland has tariff revenue worth (equivalent us dollars) $9,148,200 and a balance of trade of $7,100,000, what are its exports and imports worth?
a.
$950,416 in imports, $8,050,416 in exports
b.
$3,145,984 in imports, $10,245,984 in exports
c.
$1,921,122 in imports, $9,021,122 in exports
d.
$25,140,000 in imports, $32,240,000 in exports

d.   $25,140,000 in imports, $32,240,000 in exports

Let x be the export worth and y be the import worth of Ireland.

Since, Balance trade = Export worth - Import worth

Then according to the question we have following equations :-

Multiplying equation (2) by 0.21, we get

Adding (1) and (3), we get

Substituting value of x in (2), we get

Hence, Ireland's import worth is 25,140,000 and export worth =  $32,240,000

an altitude of 15,000 feet

step-by-step explanation:

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