All of the Following Are Bases for Government in Australia

question 39

Multiple Choice

All of the following are bases for government in Australia and New Zealand EXCEPT:

• A) parliamentary democracy.
• B) majority rule.
• C) the Pacific Way.
• D) universal suffrage.

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to higher market prices.

Tax

A compulsory financial charge or levy imposed by a governmental organization in order to fund various public expenditures.

Price Elasticities

The responsiveness of the quantity demanded or supplied of a good to a change in its price.

Excise Tax

A tax charged on specific goods and services, such as tobacco and gasoline, intended to reduce their consumption or raise revenue.