Economic Policies

What is revenue?

• the amount of money coming into a country
• the amount of money leaving a country
• taxes imposed on imported goods
• income from imported cars

What is surplus?

• Having an excess of money
• Having a limited amount of money
• Having a balanced amount of money
• Having a credit line

Which of these are examples of government revenue

• income tax
• credit
• pensions
• work for the dole

Which of these is an example of government expenditure?

• Social Security and Benefits
• Company tax
• Sales tax (GST)
• Fuel excise

What is the purpose of monetary policy?

• To change the interest rates depending on the circumstances in the economy
• To make people pay more money on their home loans
• To reduce the amount of debt the government has
• _{To increase or lower the taxes on imported goods}

What is macro economic policy?

• Policies which focus on specific industries
• Policies which focus on the whole of a country
• Policies which focus on a particular market
• Policies which help certain companies

What is micro economic policy

• policy which focuses on the whole of a nation
• Small policies
• Policies which are specific to a company, industry or market
• Policies which are not important

What is deregulation?

• removal of rules in a certain part of the economy
• placing of rules in a certain sector of the economy
• removal of policies to do with tariffs
• placing of rules to do with tariffs

What is an import quota?

• The number of imports in Australia
• the number of taxes placed on a product
• A restriction of the amount of imports
• A restriction on the amount of exports

What is another name for trade liberalisation?

• Freedom Traders
• Free Taxes
• Trade Freedom
• Free Trade