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TYPES OF BUDGETS
1. Deficit budget
If the proposed expenditure is greater than the planned revenue from taxation and miscellaneous receipts, this is a budget deficit. The excess of expenditure over revenue will be met through borrowing both internally through the sale of Treasury Bills and externally from other organisations.
2. Balanced budget
If the proposed expenditure is equal to the planned revenue from taxation and other miscellaneous receipts, this is a balanced budget. Usually, balanced budgets are not presented, unless the expenditure is very limited. It would mean the government would have to over-tax the population which can create disincentives. It is to avoid this that the tax revenue is supplemented by borrowing.
3. Surplus budgets
If the proposed expenditure is less than the planned revenue from taxation and other miscellaneous receipts, this is a surplus budget. Usually, surplus budgets are not presented for they are deflationary and can create unemployment as the government takes out of the economy more than it puts back.
Discuss some of the effects of the economic downturn on supply, demand, inferior goods, complimentary goods, substitute goods, and price. words accepted#
how does knowledge of economics help in maximizing profit in firm
Advantages a. They are less costly to administer because the producers and sellers themselves deposit them with the government. b. If levied on goods with inelastic deman
Effects of Fluctuations in Exchange Rates When a country's currency depreciates, exporting firms may have competitive advantage but businesses which rely on imports for raw ma
Consider an industry with a sole producer, a monopolist. The latter faces cost function C(Q)= Q/2 and aggregate (inverse) demand P(Q)=1 - Q (zero for Q> 1). Illustrate all your ans
Interest rates Decreasing the rate of interest may not encourage investment but increasing the interest rate tends to lock up liquidity in the financial system.
The following contains cost and benefit information for two different alternatives for a w capital investment in computerized process technologies to control the process at a manuf
p=10, TC= 1000+2Q+.01Q^2, Q=?
assignment
Two competing firms are each planning to introduce a new product. Firm 1 will decide whether to produce product A, product B or product C, while firm 2 can choose between products
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