Receipts from taxes
Why are receipts from taxes classified as revenue receipts? Answer: Receipts from taxes are classified as revenue receipts since they do not build liabilities nor reduction in the assets.
Why are receipts from taxes classified as revenue receipts?
Answer: Receipts from taxes are classified as revenue receipts since they do not build liabilities nor reduction in the assets.
Voluntary unemployment: It refers to a condition when person are not willing to do work at customary market wage rate, though they are receiving a work.
Whenever the price of a good all along a demand curve is modified since of a change in supply, the substitution effect is the modification in purchases of a good which result from a change merely in: (1) The associative price of that good. (2) Consumer tastes and prio
Quetion: Describe the present economic crisis situation in Europe. Why has it been so difficult for the Europeans to find a solution to this problem? Comment on what implications the crisis may have for the rest of the
What occurs to economy, when credit availability is limited and credit is made costlier? Answer: Aggregate demands falls
Explain the concept of “economies of scale” and “increasing returns”.
If the liability to give a tax is on one person and the burden of tax fall on some other person, state the kind of tax? Answer: These are indirect taxes like sales
In market economies, what are the signals which guide economic decisions?
Define the term Supply curve.
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
Write a brief note on plan and non-plan expenditure of the government with illustration. Answer: Plan Expenditure
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