The tax levied on goods and services at each stage of production is
Surtax
VAT
Ad valorem tax
PAYE
Correct answer is B
No explanation has been provided for this answer.
The excess of aggregate expenditure over full employment level of output is referred to as
GNP gap
Deflationary gap
Inflation gap
Recessionary gap
Correct answer is C
No explanation has been provided for this answer.
If budget deficits are financed by borrowing, the crowing-out effect can be offset by an increase in
Government expenditure
Savings
Interest rates
Exchange rates
Correct answer is C
No explanation has been provided for this answer.
Exchange control
Tax relief
Devaluation
Quotas
Correct answer is D
No explanation has been provided for this answer.
The European Union was formed to
Promote free trade within member nations
Promote economic integration in non-member countries
Assist countries to achieve their economic goals
Finance development projects in member nations
Correct answer is A
The main aim of the European Union is to promote peace, trade, values, and the well-being of citizens within its border.