Suppose that lebanon has placed tariffs on its imports and exports. the import tariff is 13%, and the export tariff is 8%. if lebanon has a balance of trade of (equivalent us dollars) $5,510,000 and received tariff revenue of $4,019,200, what are its imports and exports worth? its not a and i need it fast

Import= 17,040,000 ; Export=22,550,000

The balance of trade is calculated by subtracting the export with the import. Let say I= import and E= export. You can get this equation:

balance of trade= E-I
5,510,000= E-I
E= 5,510,000+I

If you put the equation into the export/import tariffs it would be:
0.13* I + 0.08*E= 4,019,200
0.13* I + 0.08*(5,510,000+I)= 4,019,200
0.13I + 0.08I + 440,800=  4,019,200
0.21I =  4,019,200- 440,00
0.21I= 3,578,400
I= 17,040,000

The export would be:
E= 5,510,000+I
E= 5,510,000+17,040,000
E= 22,550,000

56 ur welcome:

Idon’t know the answer to this