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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What are the two main categories of taxes?
💡 Hint: Think about how the government collects money from individuals directly and indirectly.
Question 2
Easy
Give an example of non-tax revenue.
💡 Hint: Consider payments that don’t come from taxes.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What are the two main categories of taxes?
- Direct and indirect
- Non-tax and tax
- Internal and external
💡 Hint: Think about how taxes are collected.
Question 2
True or False: Non-tax revenue can include fines and fees.
- True
- False
💡 Hint: Recall what qualifies as non-tax revenue.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A government has a budget deficit of $500 million and has a plan to cover this by issuing bonds. If these bonds yield a 5% interest rate compounded annually, how much will the government owe after 5 years?
💡 Hint: Consider how interest accumulates over time on loans.
Question 2
Evaluate the impact of increasing direct taxes by 10% on the public revenue and how this could influence individual spending behavior.
💡 Hint: Think about the relationship between income and spending.
Challenge and get performance evaluation