The Star (10/2/15) Getting the facts right on GST BY IVAN LOH SECOND Finance Minister Datuk Seri Dr Ahmad Husni Hanadzlah’s special assistant Ting Tai Fook has travelled around the country to give talks about the goods and services tax (GST) to the community. In all his talks, Ting explained extensively about the tax system that would be implemented from April 1 to replace the existing sales and service tax. The Star talks to Ting to get more answers about GST. 1. What was your
Words: 922 - Pages: 4
Funland people consume 75 cents for every extra dollar they earn (and conversely save 25 cents for each extra dollar). Assume that autonomous consumption is $200 (i.e. what is spent regardless of income). Assume there is no external sector and no government expenditure yet, so Aggregate Expenditure is just C+I. 1. What is the formula for the consumption function? C = Cauton + ɑ(Y) C = 200 + 0.75Y Assume the Funland Bureau of Statistics employ you as an economist to complete the following
Words: 838 - Pages: 4
Veblen felt that once the consumer purchased the required goods of a desired class and through conspicuous consumption demonstrated the ownership of these goods that the consumer was then consider by society to be a member of that class. Duesenberry agrees with Veblen to some extent but expands on Veblen’s theory in noting that in order to maintain standing within the class that the consumer must be in a dynamic state of increased spending to obtain an increasingly higher quantity and standard of
Words: 627 - Pages: 3
questions with academic paragraphs of at least 50 words. State your point of view and explain it thoroughly. • What is conspicuous consumption? How does conspicuous consumption influence purchasing decisions? Think about a high-priced item that you have bought or would like to buy. To what extent does conspicuous consumption affect your decision? Conspicuous consumption is defined as buying expensive or extravagant things to satisfy psychological craving. It can be defined as unnecessary spending
Words: 1222 - Pages: 5
Performance For macoreconomic performance, it will be influenced by the variation in asset prices. In another word, the variation in asset prices refer to the change in household's wealth. We call the causal effect of exogenous changes in wealth upon consumption behavior as the wealth effect (Karl E. Case, John M. Quigley and Robert J. Shiller, 2001). In daily life, the house and stock price represent the major wealth for household, and in my following paper, I will introduce how house and stock price changes
Words: 1422 - Pages: 6
MEANING OF CONSUMERISM Consumerism is a social and economic order that encourages the purchase of goods and services in ever-greater amounts. The term is often associated with criticisms of consumption starting with Torstein Veblen. Veblen's subject of examination, the newly emergent middle class arising at the turn of the twentieth century, comes to full fruition by the end of the twentieth century through the process of globalization. In this sense, consumerism is usually considered a part of
Words: 1866 - Pages: 8
ECO 302 WK 8 ASSIGNMENT 2 THE VALUE ADDED TAX To purchase this visit here: http://www.activitymode.com/product/eco-302-wk-8-assignment-2-the-value-added-tax/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECO 302 WK 8 ASSIGNMENT 2 THE VALUE ADDED TAX ECO 302 WK 8 Assignment 2 - The Value-Added Tax Write a four to six (4-6) page paper that answers the following: 1. Explain the concept of value-added tax (VAT). (one to two (1-2) pages) 2. Analyze the pros and cons of imposing a VAT. More Details
Words: 1049 - Pages: 5
Academic Research Paper Presentation: This event was interesting to see the types of research topics professors from various universities were working on. I particularly enjoyed the topic of Accounting by Management Intent; The Freddie and Fannie Experience by Dr. Rashad Abdel-Khalik. His point regarding fair value presentation of assets on the balance sheet was really relevant in representing firms. I also thought that the paper on Corporate Social Responsibility Practices in the Listed Companies
Words: 482 - Pages: 2
and some selected financial services. In my opinion, I think GST can educate consumers to become more prudent. If the user does not want to pay more GST then limit expenditure or buy only things that they really need only. GST is based on consumption tax where the more you wear or buy the more you pay. People are likely to be used more. So this can contribute to the national income that could eventually give benefit to all people. In addition, GST rate is lower (6%) compared to sales and service
Words: 399 - Pages: 2
The company chosen for this assignment is Walmart. Walmart's history is one of innovation, leadership and success. Walmart was founded by Sam Walton in 1962, it was incorporated on October 31, 1969, and listed on the New York Stock Exchange in 1972. It started with a single store in Rogers, Arkansas in 1962 and has grown to what is now the world's largest and arguably, the most emulated retailer. Some researchers refer to Walmart as the industry trendsetter. Today, this retailing pioneer has annual
Words: 1079 - Pages: 5
