If a country’s tax receipts are $520bn and government expenditure is $540bn, which of the following best describes the state of the macroeconomy?

Between 1990 and 1992, UK citizens were charged a Community Charge commonly known as the poll tax – a single flat-rate per capita tax on every adult at a rate set by the local authority. What type of tax was this?

What is an example of an automatic stabiliser in response to a period of negative economic growth?

Current: Tiered system of seven tax rates, the lowest being a 10% rate on taxable income between $0 - $9,275, the highest being a 39.6% rate on taxable income exceeding $415,000. Proposal: 10% on all taxable income. This proposal shows;

UK government spending on the new high-speed railway line from London to Birmingham is likely, in the short run, to:

What does the Laffer Curve show?

Which of these would be the most effective in reducing expenditure on imports?

Which of these types of government spending is an example of current expenditure?

What is the marginal tax rate if an individual’s annual income increases from £30 000 to £35 000?

Which of the following is an instrument of fiscal policy?

What can the government do to finance a budget deficit?

The table below outlines the income tax rates in the UK in 2016–17. What is the average tax rate of an individual earning £46 500?

A smartphone manufacturer sees the demand for its phone rise in response to a decision to reduce its price below that of a competitor. How can this rise in demand be shown on a diagram?