Liability of tax problem
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 tax.
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 tax.
Determine the value of total receipts of government budget when budget deficit is Rs 2,000 crores and the net expenses is Rs 3,000 crores.
Describe Okun's law? Give an illustration of how it works.
Devaluation means decrease in the external value of a country’s currency as an aware policy measure adopted by the Government of a country. In another words, we make our currency less costly in terms of foreign currency. This builds our goods ch
How does a commercial bank make money? Answer: Commercial banks are capable to make credit that is many times greater than deposits received by banks. Money creatio
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
Write a brief note on plan and non-plan expenditure of the government with illustration. Answer: Plan Expenditure
What are the Steps to analyze modifications in equilibrium?
‘The country is at present in recession and this has led to worse tax revenue and high expenses. The effect is a huge deficit. The government decides to increase taxes and lower government expenses. Is this an excellent idea?’
Define fiscal policy? Answer: Fiscal policy is the revenue and expenditure policy of government with a view to combat the state of inflationary or deflationary gap
The fact that most of the necessities for life like water are priced much lower than the frivolities like diamonds is addressed by the: (1) Utilitarian enigma. (2) Law of diminishing marginal utility. (3) Rational ignorance of hypothesis. (4) Paradox of the value. (5)
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