Principles of Economics Study Set 13
Quiz 9 :
Introduction to Macroeconomics
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Q44 Q44 Q44
The statements below refer to the circular flow of income at the current point in time. Correctly match the following pairs. Statement a() Firms pay households for the supply of their inputs. b() There is a legal requirement that workers put more money in the superannuation funds. c() Company taxes increase. Answer
Q48 Q48 Q48
For each of the following, indicate if the person would be classified as employed, unemployed, or not in the labour force: (a) a 65- year- old man who left his job and is now helping his daughter in her business for 10 hours a week; (b) a 20- year- old undergraduate who is looking for a summer job; (c) a 30- year- old woman with a PhD in history who has not been able to find a teaching position and is driving a taxi for 30 hours a week; and (d) a 40- year- old coal miner who isn't working and has given up searching for a job.
Q79 Q79 Q79
In May 2010 the Australian government announced plans to introduce a 40- percent tax on the 'super profits' of firms in the mining sector, while simultaneously making a slight reduction in the normal company tax level. What are the potential advantages and disadvantages of such a tax?