Base of categorizing receipts into revenue and capital
What is the base of categorizing receipts into revenue and capital receipts?
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Answer: Revenue receipts are such which neither make a liability for the government nor decrease the assets of government like sales tax, income tax, fees, profits and so on. Capital receipts are such that either makes a liability for government or decrease assets like borrowings, disinvestment, recovery of loans and so on.
Define Break Even point? Elucidate with the help of saving function. Answer: Breakeven point is a point where consumption equals to income and saving is equivalent t
‘The country is at present in recession and this has led to worse tax revenue and high expenses. The effect is a huge deficit. The government decides to increase taxes and lower government expenses. Is this an excellent idea?’
What stage of the business cycle is our economy experiencing at present time? proof your answer.
State the Law of supply and explain the factors that affecting supply of commodity
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
Whenever longer periods are considered and hence bigger ranges of adjustments (that is, substitutions) become probable, demand curves tend to become: (i) Flatter, and therefore do supply curves. (ii) Flatter, as supply curves become steeper. (iii) Ste
Fiscal policy measures used for achieving full-employment level of output and price include increase in the government expenditure and cut in tax rates. A cut in tax rates eliminates only the adverse effect of high tax rates, whereas an increase in government expendit
The consumer gains from being capable to purchase at a single price rather than paying all that the particular quantity of the good is subjectively worth are: (i) Adverse selections. (ii) Market exploitation. (iii) Consumer surpluses. (iv) Moral hazards.
Explain with examples the reasons for exceptional demand curve
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