Consumption curve
Illustrate a point on consumption curve at which APC = 1. Answer: APC = C/Y = 1 is possible when C = Y, that is, Consumption is equivalent to Income.
Illustrate a point on consumption curve at which APC = 1.
Answer:
APC = C/Y = 1 is possible when C = Y, that is, Consumption is equivalent to Income.
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
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Why is tax considered as revenue receipt? Answer: Since tax neither makes a liability for government nor decreases assets of the government.
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