Fiscal Policy and the Budget (Leaving Cert Economics): Quizzes
📚Quizzes
Practise the questions
13 questions from this quiz
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Practise the questions
13 questions from this quiz
What is fiscal policy?
What is fiscal policy?
Govt using spending & tax to affect economy
How much did corporation tax generate for Ireland in 2022?
How much did corporation tax generate for Ireland in 2022?
€24 billion
Which of these is an indirect tax?
Which of these is an indirect tax?
VAT
What is capital expenditure?
What is capital expenditure?
Long-term investment in infrastructure
What is a budget deficit?
What is a budget deficit?
Expenditure exceeds revenue
What can a govt do with a budget surplus?
What can a govt do with a budget surplus?
Pay down existing debt
When is expansionary fiscal policy typically used?
When is expansionary fiscal policy typically used?
During recessions
What did Ireland introduce during COVID-19 to support workers?
What did Ireland introduce during COVID-19 to support workers?
Pandemic Unemployment Payment (PUP)
What is the 'crowding out' effect?
What is the 'crowding out' effect?
Govt borrowing raises interest rates
Under the Stability and Growth Pact, what is the budget deficit limit?
Under the Stability and Growth Pact, what is the budget deficit limit?
3% of GDP
Why can't Ireland set its own interest rates?
Why can't Ireland set its own interest rates?
ECB controls rates for all eurozone
Besides raising revenue, what else can taxation do?
Besides raising revenue, what else can taxation do?
Redistribute income
Why are indirect taxes considered regressive?
Why are indirect taxes considered regressive?
Hit low-income groups harder