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What is the role of price in market economies?
Tax revenue: Tax revenue is the revenue which occurs on account of taxes levied by government. Taxes are of two kinds: direct taxes and indirect taxes. Direct taxes are such taxes levied instantly on the property and income of person’s income ta
Determine the value of total receipts of government budget when budget deficit is Rs 2,000 crores and the net expenses is Rs 3,000 crores.
What is the difference among the discount rate, prime rate and the subprime rates of interest? Which interest rate in particular build the 2008 recession? Explain how that happened.
Why is tax considered as revenue receipt? Answer: Since tax neither makes a liability for government nor decreases assets of the government.
How can governments seek to control their national economies through fiscal and monetary policies?
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied. The sellers will respond to the shortage by increasing the price of the good till the market reaches the equi
10 US dollars are exchanged for 500 Indian rupees. Calculate the exchange rate for Indian currency? Answer: $1 = 500/10 = Rs.50, that is, $1 = Rs. 50
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