Creation of assets or reduction of liability
Illustrate which budget expenses does not result in the creation of assets or reduction of liability. Give illustrations too.
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Answer: Revenue Expenditure does not effect in creation of assets or reduction of liability. These expenditures are incurred for normal running of govt. departments and maintenance of services. For instance: salaries, old age pensions, interest payments, subsidies, grants and so on.
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.
Explain in short the income approach to evaluate national income. Answer: Under income method to compute the National Income, the steps given below have been taken into account: A) First of all production units tha
Individuals maximize the satisfaction whenever the marginal utilities of all goods are: (i) Precisely proportional to the consumer’s income. (ii) Maximized. (iii) Precisely proportional to the opportunity costs of consuming them. (iv) Equivalent
Define fiscal policy? Answer: Fiscal policy is the revenue and expenditure policy of government with a view to combat the state of inflationary or deflationary gap
The basic determinant of the transactions demand for money is the
I help with part 2 and the 4 part question.
For the firm, the major goal of profit sharing plans is to:
When firms bear the legal incidence of a tax, this is backward shifted while: (1) firms burden consumers by raising their prices. (2) the tax burden is borne by workers in the form of lower wages. (3) resource suppliers seek higher factor payments to
When the U.S. furniture market is primarily in equilibrium at point e on S0D0 and then Chinese manufacturers start exporting more furniture to the United States, then this market would shift towards a new equilibrium at: (1) point a. (2) point b. (3) point c. (4) poin
Use economic theory to explain the inflation movements and factors influencing it. Use relevant models to explain the impact of changes in fiscal and monetary policies in curtailing inflation.
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