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Explain the purpose and burden of public debt.
Introduction: Due to increase in the activities of the Government the volume of public expenditure has rising over the years and every time it is not possible to meet a increase expenditure through the traditional source of revenue that is taxes beside increase in taxes are unpopular with the general public thus the Government obtains…
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Explain the effects of public expenditure on production and distribution.
Public expenditure refers to the spending made by the government or public authorities to provide goods and services, support economic development, and fulfill various public needs. It includes all the financial outlays by the government at all levels (local, state, and national) for the development and functioning of the economy. The effect of public expenditure…
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Explain the causes for growing public expenditure.
Introduction: Public expenditure refers to the spending made by the government or public authorities to provide goods and services, support economic development, and fulfill various public needs. It includes all the financial outlays by the government at all levels (local, state, and national) for the development and functioning of the economy. In recent times the…
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What is public expenditure? explain its types.
Meaning: Public expenditure refers to the spending made by the government or public authorities to provide goods and services, support economic development, and fulfill various public needs. It includes all the financial outlays by the government at all levels (local, state, and national) for the development and functioning of the economy. Expenditure incurred by the…
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Briefly explain the classification of Tax.
Introduction: Taxes are levied by the government on the basis of three major classes of tax rates. The classification of tax are progressive, proportional and regressive. In order to understand them it is essential to know how these three types of tax rates differ from each other on the basis of tax base. the base…
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Explain the effects tax on production and distribution.
Introduction: Taxes can have significant effects on the distribution of income and wealth within an economy. These effects vary depending on the type of tax (direct or indirect), the structure of the tax system, and how the tax revenue is used by the government. Here are some effects of taxes on production and distribution. The…
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Explain the impact, incidence and shifting of tax.
Impact of taxation: Taxation on goods, income or wealth influencing economic behavior and the distribution of resources. For example higher taxes on carbon emissions will increase cost for producers, reduce demand and shift demand towards alternatives. Higher income tax can enable redistributors of income within society but may have an impact on reducing the incentive…
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Explain the merits and demerits of indirect tax.
Meaning: Indirect tax is a type of tax that is imposed on goods and services than on income or profits. The key characteristic of an indirect tax is that it is collected by an intermediary (such as a retailer or manufacturer) from the person who ultimately bears the cost, usually the consumer. The tax is…
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ECONOMICS-6 MACRO ECONOMICS
IMPORTANT QUESTIONS; TEN MARKS QUESTIONS SIX MARKS QUESTIONS
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Explain the merits and demerits of Direct tax.
Introduction: Taxes are compulsory payment to the government without expectation of definite return or benefits to the tax payer. According to Dalton, a tax is a compulsory contribution imposed by public authority irrespective of the exact amount of service rendered to the tax payer in return and not imposed as a penalty for any legal…