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Types of budget:
Surplus Budget: A surplus budget occurs when the expected government revenue is planned to exceed the proposed government expenditure. It can be achieved by reducing government expenditure or increasing taxation or both. A surplus budget is usually adopted to reduce inflationary pressures because it reduces aggregate effective demand in the economy.Deficit Budget:A deficit budget occurs when the government revenue estimate is less than the proposed government expenditure. The fiscal deficit can be financed by raising loans from both internal and external sources. A deficit budget may be used to stimulate domestic production during economic recession or depression.Balanced Budget: A government budget is balanced when its revenue estimate is equal to the intended expenditure. It is also called a neutral budget because it is usually adopted to keep the level of economic activities stable as in the preceding year.
What actions could a government take in order to keep the price above market equilibrium? There are four basic possibilities here; 1) Minimum price; 2) A tax on the good
Explain about the perfect competition according to economics theory. The procedure of testing and refining theories is the key to the development of modern economics like a sci
friedman and savage hypothesis
Define
Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assume the
how a capitalist system solves the three fundamental economic problems
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what is the theory of second best? prove the theorem with the help of a diagram.
Under capitalism, most production is undertaken by private companies (of various forms), with the goal of generating a profit to the company's owners. Profit is obtained when compa
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