Numeracy Worksheet Chapter 32
Name:
Date:
Q1) The US government collected $750 billion in 2022. The government spent
$50 billion on education.
i)
How much had the government left over after spending this money
on education?
ii)
What percentage of the overall budget was spent on education?
(Amount spent over the total amount X 100)
iii)
What type of economic system is the USA?
iv)
What are some of the characteristics of this economic system?
Q2) In Ireland due to adopting a
economy approach the current
income tax rates are 20% and the higher rate is 40%. The Standard cut off
point for the lower rate of tax is €49,000
i)
John is employed in an accounting firm an earns €65,000 a year. How
much tax will John pay?
ii)
What will John’s take home pay be? (Salary – Tax paid)
iii)
Name a benefit of Ireland having a high tax rate
iv)
Name three things the Irish government spend tax collected on
Key terms:
Key term 1 =
What is meant by this term?
Key term 2 =
What is meant by this term?
Key term 3 =
What is meant by this term?