The Reallocation of Resources and the Redistribution of Income (HSC SSCE Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
How many primary mechanisms can govt use to influence resource allocation?
How many primary mechanisms can govt use to influence resource allocation?
Three mechanisms
What is a defining characteristic of direct taxes?
What is a defining characteristic of direct taxes?
They cannot be shifted to others
What is the main aim of high tobacco taxes?
What is the main aim of high tobacco taxes?
To deter smoking uptake & encourage quitting
Above what income do singles pay Medicare Levy Surcharge without private health insurance?
Above what income do singles pay Medicare Levy Surcharge without private health insurance?
Above 90,000 AUD
The NBN represents the most significant recent example of what?
The NBN represents the most significant recent example of what?
Govt provision of goods & services
What share of total private income does the highest quintile receive before govt intervention?
What share of total private income does the highest quintile receive before govt intervention?
49%
What defines a progressive tax?
What defines a progressive tax?
ART rises as income rises
What is Australia's tax-free threshold in 2019-20?
What is Australia's tax-free threshold in 2019-20?
18,200 AUD
Why is GST considered regressive?
Why is GST considered regressive?
Lower earners pay higher % of income
What proportion of govt expenditure do social welfare payments account for annually?
What proportion of govt expenditure do social welfare payments account for annually?
About one-third