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.
At any point on short-run supply curve of a competitive industry, every firm produces at the similar: (w) rate of technological equilibrium. (x) average cost. (y) marginal cost. (z) positive level of economic profit. Q : State Statutory liquidity ratio or SLR State SLR (or Statutory liquidity ratio): It is the ratio of net or total demand and time deposits of commercial bank that, it has to keep in the form of specified liquid assets.
State SLR (or Statutory liquidity ratio): It is the ratio of net or total demand and time deposits of commercial bank that, it has to keep in the form of specified liquid assets.
Give the answer of following question. Economic growth is best defined as an increase in: A) either real GDP or real GDP per capita. B) nominal GDP. C) total consumption expenditures. D) wealth in the economy.
When demand for a consumer good is relatively price elastic, in that case: (i) total spending will decline when the price rises. (ii) the demand curve is vertical. (iii) the price of the good is determined through supply alone. (iv) the quantity respo
I have a problem in economics on Influence of Demand in the market price of good. Please help me in the following question. In short run, a demand curve would not shift the following a change in: (i) The size and distribution of national income. (ii)
Why production possibility curve is concave? Answer: This is due to increasing the marginal opportunity cost.
The difference between change in supply and change in quantity supplied is as follows: (1) The change in quantity supplied is caused just by the change in the price of good, whereas a change in supply takes place whenever the ceteris paribus suppositi
Whenever someone paying for the service can’t completely monitor the behavior or aims of the person offering the service, there are potential inequities and inefficiencies caused by the: (1) Moral hazard. (2) Adverse selection. (3) Utilitarianism. (4) Principal-
The income stream per period like a percentage of the dollar outlay for investment into a capital good is the: (1) present value of the investment good. (2) rate of economic profit. (3) interest rate. (4) rate of retu
Unless this chooses to shut down since demand never exceeds average variable costs, in that case a profit-maximizing monopolist makes output where: (i) marginal revenue equals marginal costs [MR = MC]. (ii) marginal revenue minus marg
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