Question

A Value Added Tax is an example of which type of taxes?
1 general tax, indirect tax and progressive tax
2 selective tax, direct tax and progressive tax
3 selective tax, indirect tax and regressive tax
4 general tax, indirect tax and regressive tax

B What does it mean when there is a surplus on a country’s current account?
1 The value of a country’s assets is more than the value of its liabilities
2 The value of a country’s liabilities is more than the value of its assets
3 The value of a country’s exports is more than the value of of its imports
4 The value of a country’s imports is more than the value of its exports

C In what account in of a country’s balance of payments will the export of diamonds be recorded ?
1the current account
2the financial account
3unrecorded transactions
4a change in gold and foreign reserves

Answer 1

A 4

B 3

C1