Debt
Which province is the poorest?
What is, New Brunswick
What does it mean when a government is in a surplus?
What is when a government has more revenue than expenditures.
What is the type of tax you pay for every time you buy anything?
What is Sales and Service Tax
What are at least two types of transfer payments to people?
Employment insurance, Income Assistance,
What is meant by Federal revenue?
What is, The money earned by the government
What exactly IS debt?
What is, The amount of deficits you have that build up to you owning a certain amount of money to someone.
What is an Expenditure?
What is, Expenditure is the amount of what you spend
What percent is Nova Scotia's sales tax?
What is, 15%
What are two types of transfer payments to provinces?
What is, The Canada health transfer or the Canada social transfer or equalization payments
Whats the difference between debt and deficit?
What is, Debt is all your deficits built overtime and Deficit is the combination of every debt
What is the main reason why people and governments should try to avoid Deficits and Debt?
What is, to stay in a surplus and interest
Which type of tax does the government get most of their income from?
What is Personal Income Tax
Define Income tax
What is Tax based on your income
What exactly is Income assistance?
What is A program that provides people in financial needs with money that they need to live
What are all of the types of taxes, and how many?
What is 4 different types, Sales tax, Corporate tax, Income tax and Other tax.
How much debt does the Canadian government owe?
What is, 768 billion dollars
What does the provincial government spend most of its money on?
What is healthcare and education
What is the difference between a need that costs money and a want that costs money?
What is, a want is something you need and cant live without, like rent and food and a want is something you don't need and can live without, like games.
What is Employment Insurance?
What is An unemployment program that provides people who have recently lost a job to get temporary income help.
Can you get EI from being fired from a job?
What is No. You cant get EI from being fired only if the company became bankrupt or something that wasn't your fault.
What is one of the main reasons why people are in debt?
What is, Credit card debt, certain life necessities etc.
What is the benefit the government pays to families for raising children?
What is the CCB (Canada Children's Benefits)
This is the type of tax you pay that is based on the net income of your company.
What is Corporate Tax
What is the Canada health transfer?
What is, it provides long-term predictable funding for health care to provinces and territories.
What is a crown corporation?
What is, A crown corporation is a Corporation funded by the government, like CBC