Assuming that you are watching a television programme dubbed “Taxation; an essential fiscal policy tool for moblizing resources for socio-economic development that has helped and hurt economies the world over including Ghana” with your dad who is fully aware that you are a Level 300 BBA Accounting student who has scored an “A” in Principles and Practice of Taxation Course.
Monetary Policy and Interest Rate
Monetary policy refers to the policy which is enforced by the central bank of the country to control the money supply and economic development of the country. The main aim of monetary policy is to manage inflation, consumption, and growth of the economy. The central bank influences interest rates to manage the money supply. In monetary policy, the central bank may revise the interest rate to increase and decrease the flow of money.
Development of the US Monetary System
The monetary system of a country refers to the system in which a government provides money in the economy of the country. In the modern-day monetary system, usually it contains the National Treasury, the mint where the notes are being printed. The Central bank and the commercial banks regulate the money supply in the economy of a country.
Assuming that you are watching a television programme dubbed “
policy tool for moblizing resources for socio-economic development that has helped and
hurt economies the world over including Ghana” with your dad who is fully aware that you
are a Level 300 BBA Accounting student who has scored an “A” in Principles and Practice of
Taxation Course. On the programme, avocates and economists for taxation are unanimous on the
view that taxation is an essential tool for mobilizing resources for socio-economic development
and in particular for a middle-income country such as Ghana, hence should be prioritized over
both public and private business incentives. On the contrary, some critics especially political
analysts, have argued that that governments over the world should rather create enabling
environment for private businesses to flourish including granting tax incentives as a way of
creating jobs for the
business. They sum this up often with the statement that “Government has no business doing
business, so therefore should concentrate on taxation”. Others, however, hold contrary
view on this matter making this an endless debate. Your father has become so confused
than ever, and consequently, asked of your opinion on the matter above
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
