Economics Tuition: Why should governments keep inflation rate low?

Discuss why governments are concerned to keep up the rate of inflation at a low level. Introduction Inflation is a situation where there is a sustained and...

Economics Tuition: Consider whether economic growth should be the top priority goal of a government. [15]

In 2007, the Singapore government increased the Goods and Services Tax rate to 7% and decreased the corporate tax rate to 18%. (b) Consider whether economic...

Economics Tuition: Explain how tax changes can help Singapore achieve higher economic growth. [10]

In 2007, the Singapore government increased the Goods and Services Tax rate to 7% and decreased the corporate tax rate to 18%. (a) Explain how the above tax...

National Income Accounting

H2 Economics Only

National Income Accounting is a bookkeeping system that governments use to measure the extent of a country’s economic activity within a given time period to determine its rate of growth of national income. Students are expected to be familiar with the various terms such as GDP, which will be able to help them determine the rate of economic growth, changes to living standards as well as changes to the distribution of income.

Economics Tuition: Why should governments keep inflation rate low?

by Simon Ng | Jun 13, 2018

Discuss why governments are concerned to keep up the rate of inflation at a low level. Introduction Inflation is a situation where there is a sustained and inordinate increase in the general price level when there is excess demand without or with an inadequate...

Economics Tuition: Consider whether economic growth should be the top priority goal of a government. [15]

by Simon Ng | Mar 16, 2018

In 2007, the Singapore government increased the Goods and Services Tax rate to 7% and decreased the corporate tax rate to 18%. (b) Consider whether economic growth should be the top priority goal of a government. [15] Question Analysis • Explain why...

Economics Tuition: Explain how tax changes can help Singapore achieve higher economic growth. [10]

by Simon Ng | Mar 16, 2018

In 2007, the Singapore government increased the Goods and Services Tax rate to 7% and decreased the corporate tax rate to 18%. (a) Explain how the above tax changes can help Singapore achieve higher economic growth. [10] Introduction • Define taxes •...

Economics Tuition: Discuss the effectiveness of fiscal policy in sustaining economic growth and stability in Singapore. [15]

by Simon Ng | Mar 16, 2018

The recent financial crisis saw Singapore's exports plunge as the global recession has affected almost all major economies in the world, including the USA. Discuss the effectiveness of fiscal policy in sustaining economic growth and stability in Singapore. [15]...

Economics Tuition Case Study Question: Economic Indicators of USA and Japan

by Simon Ng | Jan 1, 2018

The following tables, Table 1 and Table 2, illustrate the economic indicators of two countries, USA and Japan. Analyse the economic data carefully before you answer the questions listed below. Questions (a)(i) According to the data, which country has higher standard...

Economics Tuition: Is Singapore’s standard of living really high?

by Simon Ng | Jan 1, 2017

Many economists and statistical reports from prominent research institutions have ranked Singapore as one of the countries with a higher standard of living as our real Gross Domestic Product has been ranked in the top ten of all nations over the years....

Economics Tuition: Explain the problems of comparing living standards of Singapore over time

by Simon Ng | Aug 20, 2015

In Singapore, the enforcement of a good crime enforcement system has significantly reduced the level of crime rates and illegal activities in Singapore. However, in the past, where the presence of illegal activities/pirated transactions was rampant, it may...

What is standard of living?

by Simon Ng | Aug 13, 2015

Standard of living refers to the average quality of life of a population that includes the material and non-material aspects of life. The material aspect or quantitative value of SOL is determined by the quantity of goods and services enjoyed by the individual through...

Economics Tuition: To what extent is the policy of gradual appreciation of the Singapore Dollar always a desirable approach to maintain economic stability in Singapore?

by Simon Ng | Aug 10, 2015

To what extent is the policy of gradual appreciation of the Singapore Dollar always a desirable approach to maintain economic stability in Singapore? Introduction When an economy seeks to achieve economic stability, the government strives to achieve low inflation rate...

Economics Tuition: Discuss the extent to which the austerity measures in the EU will have an adverse impact on the Singapore economy

by Simon Ng | Aug 10, 2015

Amidst the slow growth in the EU, the persistently high budget deficit and ballooning public debt have become major concerns for many governments in the EU. As a result, they have implemented 'austerity measures' to reduce their budget deficit by raising taxes and...

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