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Economic methodology Categorise
Target Level
C
Running Total
0
0%
Attempt
1 of 1
Click on an item, then click on a category to place it. Or, drag and drop the item into the correct category. Organise all items before clicking 'Check'.
Normative statements
Positive statements
The
best level of tax is zero per cent because it will stimulate consumption
expenditure.
In
2021, UK government reduced VAT from 20 per cent to 5 per cent.
Rich
people deserve to be taxed heavily.
VAT
is an example of an indirect tax.
People
in the UK should save more money for retirement.
Corporate
taxes are too high.
Direct
taxes such as Pay As You Earn (PAYE) are taxes on one’s income.
Unemployment
can be caused by changes in seasons.
Government
should prioritise reducing unemployment than price level.
The
UK government is no longer a member of the European Union.