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The UAE, for which recent data is not available, has also spent historically large amounts of money on the military on a per capita basis. The UAE had a per capita spending of $2470 per person back in 2014, making it the second highest spender in that year just after Saudi Arabia, [ 1 ] but by 2020 that number had fallen to $2204.
The trick here is to realize that this is not a sum of the money that the three people paid originally, as that would need to include the money the clerk has ($25). This is instead a sum of a smaller amount the people could have paid ($9 × 3 people = $27), added with the additional money that the clerk would not have needed had they paid that ...
The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years.
For silver crowns, the grade of silver adhered to the long-standing standard (established in the 12th century by Henry II) – the Sterling Silver standard of 92.5% silver and 7.5% copper. This was a harder-wearing alloy, yet it was still a rather high grade of silver.
In general, if an increase of x percent is followed by a decrease of x percent, and the initial amount was p, the final amount is p (1 + 0.01 x)(1 − 0.01 x) = p (1 − (0.01 x) 2); hence the net change is an overall decrease by x percent of x percent (the square of the original percent change when expressed as a decimal number).
The tax percentage for each country listed in the source has been added to the chart. According to World Bank , "GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.
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The custom duty would allow the Monarch of the Kingdom to collect money that would then be spent to develop and maintain the naval force that protects the Kingdom. [ 2 ] Poundage was closely associated with tonnage , or tunnage , which was a duty on every tun of wine imported.