--%>

Define Direct taxes

Direct taxes: Whenever the liability to pay tax and the burden of that tax fall on similar person, it is termed as direct tax. Illustrations are: wealth tax, income tax, corporation tax, gift tax and so on.

   Related Questions in Microeconomics

  • Q : Variation in supply and demand curves

    These supply and demand curves for housing do NOT involve that the: (w) demand for housing has increased. (x) supply has increased, because rental price has risen. (y) equilibrium price and quantity of housing have increased. (z) housing market will c

  • Q : Define production possibility curve or

    Production possibility curve or PPC: PPC exhibits different combination of a pair of goods, that can be produced with the given resources and method of production, that are fully and proficiently utilized.

  • Q : Principle of equal marginal utilities

    The thought that, in equilibrium, the more you pay for the good, more it is worth (that is, at the margin) to you is most intimately associated to the: (1) Law of diminishing returns. (2) Equivalent satisfaction corollary. (3) Veblen effect. (4) Rising cost hypothesis

  • Q : Rate of Return onto Investment When

    When Henrietta Homeowner invests $100 to replace her old mechanical thermostat along with a new computerized “smart” thermostat, in that case her gas and electric bills will be decreased by $100 yearly all times. The rate of return onto this invest

  • Q : Describe inferior goods in economics

    Inferior goods in economics: Inferior goods refer to such goods whose demand reduces with the rise in income of consumer.

  • Q : Economic cost Economic cost can best be

    Economic cost can best be defined as: A) any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. B) any contractual obligation to labor or material suppliers. C) compensations that must be received by resource owners to insure their continued

  • Q : Problem on price elasticity The firm’s

    The firm’s net revenue grows whenever the price of a good is cut when the price elasticity of: (i) Demand surpass the price elasticity of supply. (ii) Replacement goods are less than one. (iii) Supply is in an associatively elastic range. (iv) D

  • Q : Elastic and Inelastic demand An

    An increase in the price of goods, outcomes in an increase in expenses on it. This demand is elastic or inelastic? Answer: Inelastic since there is direct relation

  • Q : Can GDP be more than GNP Can GDP be

    Can GDP be more than GNP? Answer: Yes, GDP can be greater or more than GNP if NFIA is negative.

  • Q : Effect of Increase in per capita income

    Rises in per capita income in the United States would be most probable to reduce the: (i) Demands for lard, pinto beans, and utilized tires. (ii) Excesses in the federal govt. budget. (iii) Supply of untrained labor relative to skilled labor. (iv) Tot