What are revenue receipts in a government budget?
A revenue receipt does not reduce the liability of the government and it does not add to assets of the government. Revenue receipts are classified into tax receipts and non-tax receipts.
Primary deficit equals: (Choose the correct alternative)
(1) (a) Borrowings (b) Interest payments (c) Borrowings less interest payments (d) Borrowings and interest payments both
Foreign exchange transactions which are independent of other transactions in the Balance of Payments Account are called:(Choose the correct alternative)
(a) Current transactions
(b) Capital transactions
(c) Autonomous transactions
(d) Accommodating transactions
An economy is in equilibrium. Calculate Marginal Propensity to Consume:
National income = 1000
Autonomous consumption expenditure = 200
Investment expenditure = 100
Sale of petrol and diesel cars is rising particularly in big cities. Analyse its impact on gross domestic product and welfare.
Explain the 'medium of exchange' function of money. How has it solved the related problem created by barter?
What is the difference between revenue expenditure and capital expenditure? Explain how taxes and government expenditure can be used to influence.