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Expenditure-switching subsidies: can subsidies boost international competitiveness?

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The circular flow of income: the challenges of economic modelling

EXAM-STYLE QUESTIONS

Questions on income tax

David Horner presents a series of exam-style questions on topics covered in articles featured in this issue of Economic Review. Answers to these questions can be found online at EconomicReviewExtras

Table 1 Income tax rates in England, April 2024

1 Using Table 1, calculate the amount of income tax paid by someone in England earning £37,500 in 2024. Give your answer to the nearest pound. (2 marks)

2 Explain how the data in Table 2 show that the UK’s public finances may have improved since 2020. (4 marks)

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Expenditure-switching subsidies: can subsidies boost international competitiveness?

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The circular flow of income: the challenges of economic modelling

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