The reduction in the value of a country's currency of other nations is known as
Deflation
Devaluation
Inflation
Revaluation
Correct answer is B
No explanation has been provided for this answer.
A form of tax in which the poor pay a higher rate than the rich is known as
Regressive tax
Backward tax
Oppressive tax
Retrogressive tax
Correct answer is A
No explanation has been provided for this answer.
One quality of money which makes it possible to be carried easily is its
Scarcity
Durability
Portability
Acceptability
Correct answer is C
No explanation has been provided for this answer.
In a socialist economy, factors of production are owned and controlled by the
Citizens
Businessmen
Government
Foreigners
Correct answer is C
No explanation has been provided for this answer.
The situation where by a government spends more than its budgets for a fiscal year is known as
Extra budget
Surplus budget
Mid-year budget
Deficit budget
Correct answer is D
No explanation has been provided for this answer.