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Does any government employee make more than president'?
No- not from a government salary. Some may earn a higher total from other sources of income.
How did the ideas of the Enlightenment affect relationships between citizens and the government?
is it because at the time of the enlightenment there was an absolute monarchy? and the citizens didnt agree with many of the things that the government had to do because of the ruler having total control.
If the total Gross National Product increased what would most likely happen to personal income?
Gross national product rarely affects personal income.
Which type of government tries to take total control of its citizens lives?
Totalitarian Government
What percentage of GDP is accounted for by total government purchases?
Today, total goverment purchases represent about 18% of GDP.
What is the difference between gross total income and total income?
Gross total income is the total income for the country divided by the amount of people therefore you get what each person in the country would get.
What are the differences between tax rates?
Total income tax as a percentage of total taxable income is the average tax rate, whereas total income tax as a percentage of total economic income is the effective tax rate.
Difference between income tax act and income tax rule?
The income tax act focuses its concern on total income and the income tax rule focuses on which types of income are taxable. That is the biggest difference between the two.
What is the journal entry for net income?
No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
What is the difference between exemption and deduction?
Exemption doesn't form part of total income while deduction form part of a total income.
How much are total income taxes per capita?
natural, geographic, technological, government
What kind of tax accounts for about half the total tax revenue of states government?
Income Tax
What kind of tax accounts for about half the total tax revenue of state government?
Income Tax
What is statement of profit or loss?
A statement of profit and loss is the business income and expense statement which sumarises the total income and expenses coming to the total profit (or loss) of the business which is the defference between the income and expenses.
Why the government spending multiplier is different form the tax multiplier?
The government spending multiplier is different form the tax multiplier from the top of my head is because the government spending total effect ripples off. That is if government spending increase then the total income increases. When total income increase, consumption increases, when consumption increases total income increases further (as consumption is a factor of total income), and this pattern is carried forward. This is the the multiplier effect, such that an increase in government spending's final impact on income is much bigger than its initial increase. The tax multiplier on the other hand, has a much smaller effect than government spending. This is because tax is only a portion of the consumer income. That is, if there is a tax cut, consumers only save a fractional amount (specifically 1-MPC) of a tax cut. As a result of the smaller boost in spending form ma tax cut, the ripples/multiplier effect of a tax cut is much less than an increase in government spending.
What are the key differences between income and profit?
Income is what one receives; profit is whatever part of the income is left after all business expenses and costs are paid. So the difference between income and profit is the total of business expenses and costs.
What is the relationship between income and expenses before a break-even point is reached?
Before the break even point, total expenses exceed total income and there is a loss made.
