Why is tax not a capital receipt
Illustrate, why is tax not a capital receipt?
Expert
Tax is not a capital receipt since it neither leads to the creation of liability nor to reduction in assets. However, a tax is the revenue receipt.
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Describe when there will be a shortage of the good?
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Law of supply: It is the claim which, other things equivalent, the quantity supplied of a good increases whenever the price of the good increases.
‘What occurs in the money market when there is a raise in income?’
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