O-LevelEconomicsGovernment and the macroeconomy2281/12 · May/June 2020 · Q181 Mark

A government increased revenue by increasing taxes on firms. Which tax did it increase?

Ainheritance tax

Bprofits tax

Csales tax

Dvalue added tax

✓ Correct answer

B: profits tax

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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 2, question 18.

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