week 16 quiz (tax)

There are two types of taxes, what are they?

• Federal taxes and state taxes
• Direct taxes and indirect taxes
• Sales taxes and excise taxes
• Income taxes and property taxes

what is Growth stage in business cycle?

• Time of no growth or decline in the business
• Period of rapid expansion and increasing profits
• Period of recession and declining profits
• Phase of steady growth and stable profits

what is the differences between slump and recession stage?

• Slump is a temporary economic downturn while recession is a long-term decline
• Slump and recession are the same thing
• Slump is a term used for the stock market while recession is for the overall economy
• Slump is a more severe and prolonged economic downturn compared to a recession.

identify four stages of business cycle

• growth, boom, recession, slump

• slump, growth, boom, recession

• slump, growth, recession, boom

• boom, slump, growth, recession,

what is a direct tax?

• A tax paid directly by an individual or organization to the government.
• A tax paid only by the wealthy individual or organization to the government.

• A tax paid by an individual or organization to private organization

• A tax paid indirectly through goods and services

what VAT stands for?

• Value Added Tax
• Virtual Accounting Term
• Volatile Asset Transfer
• Variable Annual Tax

A tax that is levied to a specific product for reduction purpose is called as

• rough tax

• vice tax
• luxury tax
• excise tax

what will be the effect when a country print more money ?

• Increase in the value of the currency
• Stabilization of the economy
• Decrease in the unemployment rate
• Inflation and decrease in the value of the currency

is increasing the interest rate good to the business?

• Yes
• Maybe
• Depends on the situation
• No

how government spend your tax?

• On luxury vacations for politicians
• On building personal mansions for government officials
• On funding secret military projects
• On public services and programs