Government + Interest

Question 1

what are interest rates

Answer 1

yearly change done by banks

Question 2

what are AER and APR interests

Answer 2

actual equivalent rate (AER) used to compare the expected rates
actual percentage rate (APR) using percentage rates

Question 3

what happens with someone with low credit school interest rates

Answer 3

higher interest

Question 4

what are the governments biggest spending

Answer 4

healthcare + education

Question 5

what are the governments biggest income

Answer 5

taxation and national insurance

Question 6

what are differences between direct and indirect taxation

Answer 6

direct is paid straight from person or buisness wage/profits
VS
indirect applied onto goods and services at sale point

Question 7

what is the difference between progressive and regressive taxation

Answer 7

progressive is where greater proportion fall on wealthiest people
VS
regressive more tax taken from poorer people in proportion - increase inequality