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CLASSIFICATION OF TAXES
Taxes can be classified on the basis of:
a. Impact of the taxes
It means on whom the tax is imposed. On the other hand, incidence of the tax refers to who had to bear the burden of the tax. In this case the taxes may be:
b. Rates of tax
The rate of tax is the percentage of the tax base to be taken in each situation. In this case the taxes may be:
Mankiw Model of Nominal Rigidities There are two related reasons for which firms do not frequently change prices. First, as we saw in the discussion on menu costs, the cost
PHILLIPS CURVE The Phillips curve, named after A. W. Phillips, describes the relationship between unemployment and inflation. In 1958 Phillips, then professor a
What is producer surplus? “The more the competition among the sellers, the less the producer surplus enjoyed by the producers” – do you agree with the statement. Justify your answe
1.Is Indian companies running a risk by not giving attention to cost cutting?
Direct control and Moral Suasion Without actually using the above weapons, the central bank can attempt simply to use "moral suasion" to persuade the commercial banks to restr
Explain the limitations of managerial economics
Market research operations to obtain reliable and relevant information about the trends in market. A data analysing and processing system to estimate as well as evaluate the s
Q. Show the method of production? A process or method of production is a combination of inputs essential for the production of output. A method of production is technically eff
Define the shift in demand curve To put it differently, demand for a commodity means entire demand schedule that demonstrates the varying amounts of goods purchased at alternat
Desire for a commodity This validates that a want or a desire doesn't develop into a demand except it is supported by the ability and willingness to acquire it. For example, a
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