Economists Generally Agree That the Most Important Tax in the Australian

question 7

Multiple Choice

Economists generally agree that the most important tax in the Australian economy is the tax on:

• A)property
• B)consumption
• C)labour
• D)income

---

Definitions:

Economic Growth

An increase in the output of goods and services in an economy over a period, often measured by the rise in Gross Domestic Product (GDP).

Unemployment Insurance

A government program that provides financial assistance to individuals who are unemployed through no fault of their own, to help them meet their basic needs while seeking new employment.

Labor Force

The total number of people within a specific population who are actively employed or seeking employment.

Unemployment Rate

The rate of active job seekers in the labor force without current employment.