Answered: The interaction of the NZ taxation and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The interaction of the NZ taxation and welfare (benefits) systems creates

Select one:

a.greater inequality.

b.an incentive to work.

c.high effective marginal tax rates.

d.government deficits.

Bracket creep (or fiscal drag) results from a combination of

Select one:

a.inflation and a progressive tax system.

b.inflation and a regressive tax system.

c.economic growth and flat tax rates.

d.inflation and economic growth.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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