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.
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Assume that you consume bananas and apples, and the marginal utility of the last apple consumed is 6 times the marginal utility of last banana consumed. Though, the price of apples is only 3 times the price of bananas. This disequilibrium among the two goods can be re
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