Say that Thailand has a workforce of 35,709,487 people, each of whom earns an average salary of (equivalent US

Question

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%

GPT-5 mini · Answer

Total income = 35,709,487 × $8,630 ≈ $308.17 billion.  
Required tax rate = $70 billion / $308.17 billion ≈ 0.227 ≈ 22.7%, so about 23%.

Answer: c. 23%

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%

All Answers 1

Submit Your Answer

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%

All Answers 1

Submit Your Answer

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%