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.
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In poor countries people spend a big percentage of their income so that APC and MPC are high. Yet, the value of multiplier is low. Explain why?
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Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
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