Reference no: EM133184856

Country Economic Breakdown

1. Briefly describe your country and their economy. What are their main exports? What type of economic structure is employed (Market System, Command System, Hybrid)? Who is in control of economic resources? Simply put, how does this country make money?

2. Income Tax Distribution:

a. What type of income tax system is used? Proportional? Regressive? Progressive?

b. What are the income tax levels/rates?

c. What are the corporate tax levels/rates?

d. Are there any other taxes that jump out at you as different/odd? For example, the US used to have a ‘Death Tax'.

3. Money & Banking:

a. Is there a central bank?

b. Who is in control/charge of the money?

c. What is this country's currency? Exchange rate to the dollar?

4. Fiscal Policy:

a. When was the last time fiscal policy was used?

b. Explain any recent changes to the income tax system and why these changes have been made.

5. Monetary Policy:

a. When was the last time monetary policy was used? (Interest rates changed)

b. Why did the decision makers decide to employ monetary policy? What was happening in the economy to warrant the use of monetary policy?

c. Did these measures produce the desired result?

d. Is there anything currently happening in your country to suggest future monetary policy efforts might be used (soon)?

6. Conclusion: Based on your research, how does this country compare to that of the United States? What changes do you think this country could make in their economy to be better positioned in the global economy moving forward?