Objectives of the Public Sector and Its Budgets (Grade 12 NSC Matric Economics): Flashcards
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Five objectives of SA public sector
Five objectives of SA public sector
Growth, employment, exchange rate, price stability, equity
What Real GDP measures
What Real GDP measures
Actual value of everything produced in country
Condition for economic growth to benefit citizens
Condition for economic growth to benefit citizens
Growth rate must exceed population growth rate
Full employment definition
Full employment definition
Everyone wanting work and actively seeking can find employment
SARB inflation target range
SARB inflation target range
3% to 6%
Progressive taxation system meaning
Progressive taxation system meaning
Higher income earners pay higher tax rates
Government financial year period
Government financial year period
1 April to 31 March
Month main budget is read in Parliament
Month main budget is read in Parliament
February
Provincial education funding % in equitable share formula
Provincial education funding % in equitable share formula
51%
Main tool SARB uses to control inflation
Main tool SARB uses to control inflation
Repo Rate (interest rate adjustments)