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.
Tariffs: -are also called import quotas. -may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). -are per unit subsidies designed to promote exports. -are excise taxes on goods exported abroad.
What are the limitations of using GDP as an index of welfare of a country?A) The N.I. figures provide no indication of the population, skill and resource of the country. Thus the levels of welfare stay low.B) A higher N.I. migh
Analyze at least 3 possible regions for the industry which could lead to transaction costs, explaining each in detail.
Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.
Why is tax considered as revenue receipt? Answer: Since tax neither makes a liability for government nor decreases assets of the government.
In poor countries people spend a big percentage of their income so that APC and MPC are high. Yet, the value of multiplier is low. Explain why?
Give some objective of government Budget. Answer: The objectives which are pursued by government via the budget are as follows: A) To attain economic growth. B) To decrease in equalities in income and wealth.
Why the borrowings by Government are taken as capital receipts?
The law of equivalent marginal advantage is violated when people: (1) think about paying a higher price that ensures better quality. (2) elect a general as president while war clouds threaten. (3) fail to allocate similar resources within equally valu
Meaning: - as mentioned above, the balance of payments is a periodic accounting of international economic transactions. Each country having regular economic transactions with other countries prepares periodically the final accounts of their foreign receipts and paymen
18,76,764
1933083 Asked
3,689
Active Tutors
1457024
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!