Formula for Fiscal deficit
Fiscal deficit: Fiscal deficit is stated as the surplus of total expenditure over total receipts, apart from borrowings. Fiscal deficit = Total expenditure (Rev. Exp. + Cap. Exp.) – Total Receipts (Rev. Rec. + Cap. Rec.) apart from borrowings.
Fiscal deficit: Fiscal deficit is stated as the surplus of total expenditure over total receipts, apart from borrowings.
Fiscal deficit = Total expenditure (Rev. Exp. + Cap. Exp.) – Total Receipts
(Rev. Rec. + Cap. Rec.) apart from borrowings.
What is another name of macroeconomics? Answer: Income theory
Adam Smith disputed that a nation’s wealth is, not the gold it possesses, but instead its: (1) Total population. (2) Capability to offer goods for its people. (3) Domestic financial capital. (4) Foreign investments. (5) Military might.
Illustrate which budget expenses does not result in the creation of assets or reduction of liability. Give illustrations too.
What relationship does the MPC bear to the size of the multiplier? The MPS? What will the multiplier be when the MPS is 0, .4, .6, and 1
Inflation is frequently described as "too much money chasing too few goods." Is this a satisfactory definition?
Describe cost-push inflation and its major source.
If the liability to give a tax is on one person and the burden of tax fall on some other person, state the kind of tax? Answer: These are indirect taxes like sales
In the figure shown below, line T1 depicts a tax system which is: (1) Regressive. (2) Progressive. (3) Proportional. (4) Unbiased. (5) Recessive.
Why can be value of MPC be not more than one? Answer: The value of MPC will not be more than one since increment in consumption (ΔC) can’t be more than
What does fiscal deficit in government budget mean? Answer: This means more borrowing on the portion of government.
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