O-LevelEconomicsGovernment and the macroeconomy2281/11 · May/June 2020 · Q161 Mark

What is not included in public expenditure?

Acapital spending by firms

Binterest payments on government borrowing

Cinvestment in defence by the central government

Dsubsidies to bus companies from local government

✓ Correct answer

A: capital spending by firms

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Topic: Government and the macroeconomy, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2020 Paper 1 Variant 1, question 16.

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