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Fiscal Policy Recap

Joshua Dairo 12 preguntas

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Preguntas del test (12)

  1. 1What is Fiscal Policy?
    1. AInvolves the use of government spending, direct and indirect taxation and government borrowing to affect the level and growth of aggregate demand in the economy, output and jobs.
    2. BInvolves altering base interest rates, which ultimately determine all other interest rates in the economy, or altering the quantity of money in the economy.
    3. CIncludes any policy that improves an economy’s productive potential and its ability to produce.
  2. 2Government expenditure is the sum of all spending by both local and national government
    1. AVerdadero
    2. BFalso
  3. 3Indirect taxation is a type of tax which is paid for by an individual directly to the government.
    1. AVerdadero
    2. BFalso
  4. 4Direct tax, which is imposed on a transaction and paid to the government by the firm after the good has been bought.
    1. AVerdadero
    2. BFalso
  5. 5Tick all the correct examples of Direct Taxes
    1. AIncome Tax
    2. BVAT
    3. CCorporation Tax
    4. DLandfill Tax
    5. ENational Insurance Contributions
    6. FStudent Loans
  6. 6Tick all the correct examples of Indirect Taxes
    1. AStamp Taxes
    2. BVAT
    3. CExcise Duties
    4. DInheritance Tax
    5. EPetroleum Revenue Tax
  7. 7 Balanced budget: When total government spending equals (or is greater than) government tax receipts.
    1. AVerdadero
    2. BFalso
  8. 8Budget surplus an indicator of financial health in which expenditures exceed revenue.
    1. AVerdadero
    2. BFalso
  9. 9What are Progressive Taxes?
    1. AThis occurs when an increase in income leads to the same % increase in tax.
    2. BTakes a higher percentage of tax from people with higher incomes. It means that the more a person earns, the higher his average rate of tax will be.
    3. CA tax which takes a higher percentage of tax revenue from those on low incomes. As income increases, the proportion of your income paid in tax falls.
  10. 10What are Proportional Taxes
    1. AThis occurs when an increase in income leads to the same % increase in tax.
    2. BTakes a higher percentage of tax from people with higher incomes. It means that the more a person earns, the higher his average rate of tax will be.
    3. CA tax which takes a higher percentage of tax revenue from those on low incomes. As income increases, the proportion of your income paid in tax falls.

Información

Descripción
A presentation that will introduce and explain fiscal policy. (Macro Booklet 5, Page 6)
Idioma
English
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