Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Read the extract below and answer the questions that follow: High unemployment rate, rising taxes drag down S Africa's Economic Freedom rank South Africa has

Read the extract below and answer the questions that follow: High unemployment rate, rising taxes drag down S Africa's Economic Freedom rank "South Africa has fallen from its position of 93 last year in the Economic Freedom of the World Annual Report, released by the Free Market Foundation (FMF) and Canada's Fraser Institute, to 99 this year. "FMF director Eustace Davie attributes South Africa's worsening ranking among 165 jurisdictions monitored, to the deterioration of economic activity in the country, including its high unemployment rate..." Source: https://www.engineeringnews.co.za/article/high-unemployment-rate-rising-taxes-drag-down-s-africas-economic-freedom-rank-2022-09-08/rep_id:4136

2.1. Explain how high taxes may contribute to the deterioration of economic activity and high unemployment rates in South Africa. (10) 2.2. Discuss the consequences of deteriorating economic freedom and high unemployment for the economy and the society as a whole. (15) 2.3. Formulate a fiscal policy that may be implemented to improve this situation. (15) 2.4. Critically evaluate the role of GDP as a measure of economic growth. (10)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Business Today

Authors: Charles Hill

9th Edition

1259299201, 9781259299209

More Books

Students also viewed these Economics questions