Multiple Answers: Select all the roles and responsibilities of the government in an economy.

• Establish and Enforce Employment Laws

• Health Care

• Infrastructure

• Social Welfare

Multiple Answers: Government usually provides "public goods". Select all the characteristics of a public good

• Costly

• Non-rivalrous

• Non-negotiable

• Non-excludable

A fee levied by a government on a product, income or activity.

• Fine

• Penalty

• Price

• Tax

Multiple Answers: Select all the purposes of taxation

• Raising revenue

• Redistribute Income

• To make imports cheaper

• Control spending

Where do governments get most of their revenue from

• Fines

• Borrowing

• Capital receipts

• Tax

Multiple Answers: Select all the ways government may redistribute income.

• Taxing those with higher income more

• Taxing those with lower income less or none

• Giving grants and subsidies to those of lower income

• Implementing a penalty for tax evasion

The money that households have available for spending and saving after income taxes have been accounted for.

• Gross salary

• Taxable allowance

• Disposable personal income

• Pocket change

Multiple Answers: Select all possible effects of a raise in taxes on an economy

• Increase the cost of living

• Slow down spending and the economy

• Reduction in DPI

• Reduce government revenue

Multiple Answers: Select all of Adam Smith's principles of taxation.

• Evenly

• Equity

• Certainty

• Efficiency

• Convenience

Multiple Answers: Select all of the direct taxes listed below.

• Personal income tax

• VAT

• Property tax

• Customs Duties

• Fines