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Unit 6: External Influences: Fiscal Policy
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What is an Import quota?
1 point
Taxes that are added on to goods and services. For example, sales tax (also called Value Added Tax (VAT)).
Money left to an individual after income tax has been taken out of it.
Taxes like income tax or corporation tax (tax on profits)
A law that sets a physical limit on the quantity of a product that can be imported.
A tax paid on an imported product
When the government changes its taxing and/or spending
Clear selection
What is Fiscal Policy?
1 point
Taxes that are added on to goods and services. For example, sales tax (also called Value Added Tax (VAT)).
A tax paid on an imported product
Taxes like income tax or corporation tax (tax on profits)
A law that sets a physical limit on the quantity of a product that can be imported.
Money left to an individual after income tax has been taken out of it.
When the government changes its taxing and/or spending
Clear selection
What are Direct Taxes?
1 point
Taxes that are added on to goods and services. For example, sales tax (also called Value Added Tax (VAT)).
Taxes like income tax or corporation tax (tax on profits)
A tax paid on an imported product
When the government changes its taxing and/or spending
Money left to an individual after income tax has been taken out of it.
A law that sets a physical limit on the quantity of a product that can be imported.
Clear selection
What is an Import Tariff?
1 point
A tax paid on an imported product
Money left to an individual after income tax has been taken out of it.
Taxes like income tax or corporation tax (tax on profits)
Taxes that are added on to goods and services. For example, sales tax (also called Value Added Tax (VAT)).
When the government changes its taxing and/or spending
A law that sets a physical limit on the quantity of a product that can be imported.
Clear selection
What are Indirect taxes?
1 point
Taxes like income tax or corporation tax (tax on profits)
A tax paid on an imported product
Money left to an individual after income tax has been taken out of it.
Taxes that are added on to goods and services. For example, sales tax (also called Value Added Tax (VAT)).
When the government changes its taxing and/or spending
A law that sets a physical limit on the quantity of a product that can be imported.
Clear selection
What is disposable income?
1 point
A law that sets a physical limit on the quantity of a product that can be imported.
Taxes that are added on to goods and services. For example, sales tax (also called Value Added Tax (VAT)).
When the government changes its taxing and/or spending
Money left to an individual after income tax has been taken out of it.
Taxes like income tax or corporation tax (tax on profits)
A tax paid on an imported product
Clear selection
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