100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
ECS1601 ASSESSMENT 2 2024 Which one of the following statements regarding government spending and the financing of such spending is incorrect? a. Personal income tax is the only source of revenue that can be used to finance government spending. b. The inc$5.74
Add to cart
ECS1601 ASSESSMENT 2 2024 Which one of the following statements regarding government spending and the financing of such spending is incorrect? a. Personal income tax is the only source of revenue that can be used to finance government spending. b. The inc
27 views 0 purchase
Course
Economics IB (ECS1601)
Institution
University Of South Africa (Unisa)
ECS1601 ASSESSMENT 2 2024
Which one of the following statements regarding government spending and the financing of such spending is incorrect?
a. Personal income tax is the only source of revenue that can be used to finance government spending.
b. The income received from state-owned enterprises...
EXCELGATE INSTITUTE 0846244729 iexcelgate@gmail.com
PU E
SHI
NG Y L E NC
OU TO THE GATE OF EXC EL
Education is the most powerful weapon which you can use to change the world
,EXCELGATE INSTITUTE 0846244729 iexcelgate@gmail.com
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore students must use this document ONLY as a guideline. Hence
students have regenerated their own (personalized) solutions paying particular
attention to module contents as prescribed by module facilitators, lecturers and
supervisors. This document’s purpose is to compact all sources of information that
might be relevant to students’ assignments, hence additional knowledge on the
provided information is not restricted by the authors. However, submitting this
document as one’s final work is considered unethical, and students should be
penalized. If this document is plagiarized by the users and fails, EXCELGATE should
not be rendered accountable since the contents in this document only give learners a
kick-start on what is expected of them from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE EVERY DETAIL IN THIS
DOCUMENT IN WRITING THEIR ASSIGNMENTS.
Education is the most powerful weapon which you can use to change the world
,7/25/24, 11:50 AM Assessment 2 (page 1 of 8)
ECS1601-24-Y_AS2 Introduction Assessment 2
QUIZ
Question 1
Answer saved
Marked out of 1.00
Which one of the following statements regarding government spending and the financing of such spending is incorrect?
a. Personal income tax is the only source of revenue that can be used to finance government spending.
b. The income received from state-owned enterprises forms part the sources of revenue for government.
c. Government spending can be financed through taxation and borrowing.
d. The difference between government spending and taxation is called the budget deficit.
Clear my choice
Question 2
Answer saved
Marked out of 1.00
Which of the following statements is/are correct?
a) Privatisation is the transfer of ownership from private enterprise to the government.
b) Example of nationalisation is when SARB transfers ownership to the government.
c) One of the arguments in favour of privatisation is that the privatised firm may attract foreign direct investment.
d) Unbundling of Eskom is regarded as the first step towards privatisation.
a. a), b) and d)
b. b) and d) only.
c. b), c) and d)
d. a), b) and c)
Clear my choice
Which of the following correctly states how government spending is financed?
a. borrowing, gold reserves and government owned property
b. taxes, gold reserves and income from private owned property
c. taxes, borrowing and income from government owned property
d. taxes, borrowing and gold reserves
Clear my choice
Question 4
Answer saved
Marked out of 1.00
The tax and income of two South African households, A and B, are as follows:
Household A Household B
Income (R) 5 000 1 500
PAYE (R) 1 500 200
VAT-Paid on Goods (R) 300 300
Tax Paid on Fuel (R) 800 600
According to the table, which of the following is correct?
(i) PAYE is a progressive tax,
(ii) VAT is a progressive tax.
(iii) Taxes on fuel are regressive taxes.
a. (iii) is correct.
b. (i), (ii) and (iii) are correct.
c. (ii) and (iii) are correct.
d. (i) and (ii) are correct.
e. (i) and (iii) is correct.
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller excelgateinstitute. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.74. You're not tied to anything after your purchase.
