LIBF SPECIMEN PAPERS UNIT 1

LIBF SPECIMEN PAPERS UNIT 1

9th Grade

57 Qs

quiz-placeholder

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LIBF SPECIMEN PAPERS UNIT 1

LIBF SPECIMEN PAPERS UNIT 1

Assessment

Quiz

Business

9th Grade

Practice Problem

Medium

Created by

Roxana Popa

Used 64+ times

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57 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Low inflation results in:

greater levels of savings.

greater unemployment.

lower interest rates

more expensive houses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The decimalisation of British currency occurred in the:

1950s.

1960s

1970s.

1980s.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main source of a teacher's income is most likely to be:

pension income.

salary.

savings income.

state benefits.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is exempt from value added tax?

Adults' clothing.

Biscuits.

Furniture.

Postage stamps.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The system under which employees pay tax is known as Pay As You:

Earn.

Go.

Save.

Work.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A decrease in income tax is likely to have which of the following effects?

People are likely to borrow more.

People are likely to make spending cuts.

People are likely to save more.

Work is likely to become less attractive.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements relating to the third sector is correct?

It exists to make a profit.

It has no economic impact.

It includes charities and social enterprises.

Social enterprises are not permitted to make a profit.

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