Define Indirect taxes
Indirect taxes: Whenever the liability to pay tax is on one person and the burden of that tax falls on another person, it is termed as indirect tax. Illustrations are: sales tax, excise duty, VAT, tax on services and so on.
Explain different thought of economists for law of equivalent marginal advantage.
The long-run dynamics of purely competitive industry make sure that:( w) surviving firms make positive economic profits. (x) accounting profits will equal economic profits. (y) accounting profits will be zero. (z) economic profits will be zero. <
The Taft-Hartley Act prohibited strikes against the firm over the issue of which of two or more competing unions would symbolize the firm’s employees. These strikes are termed as: (i) Jurisdictional strikes. (ii) Strategic representation strikes
I have a problem in economics on how production increases the value of good. Please help me in the following question. The production of jewelry from valuable metals raises the value of a good by modifying its: (1) Time. (2) Possession. (3) Place. (4) Form.
The least probable outcome when unions succeed in increasing their member’s salaries is that: (1) Wages in non-union sectors will drop. (2) Employment will produce in non-union sectors. (3) Barriers will be building up to limit the entry to unions. (4) Labor's s
Define monetary policy? What monetary measure can be accepted to control the condition of excess demand? It is the policy accepted by central bank exercising control over money rate of interest and credit situatio
In the long-run, an increase in consumer desire for strawberries is most likely to:
Can someone please help me in finding out the accurate answer from the following question. Unions which act primarily as tools for managers of a firm are termed as: (1) Union-busters. (2) Wildcat unions. (3) Company unions. (4) Managerial unions.
Price cross elasticity of demand measures the responsiveness of: (1) quantity of a good sold to changes within its price. (2) quantity sold to changes within income. (3) price of one good to changes within the sales of other. (4) amount demanded of on
Can someone help me in finding out the precise answer from the given options. Modifying the goods or resources in manners that make them more valuable is: (1) Production. (2) Profitability. (3) Consumption. (4) Distribution.
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