Say's law, or the law of market, is an economi c pri nci pl e of cl assi cal economics named after the French busi nessman and e conomi st Jean-Baptiste Say (1767-1832), who stated that 'supply creates its own demand'. 'Suppl y creates i ts own demand' is the formulation of Say's law by John Maynard Keynes. The rejection of this doctrine is a central component of The General Theory of Employment, Interest and Money (1936) and a central tenet of Keynesian economics
Tyndall Effect: The Tyndall effect, also known as Tyndall scattering, is light scattering by particles in a colloid or particles in a fine suspension. It is due to Brownian Motion.
D. percentage increase in tax revenue/ increase in tax coverage
Answer & Explanation
Answer : Option C
Explanation :
Buoyancy means the growth/increase in tax collections. This is in line with the GDP growth within the economy, the industry profile and the tax structure administered by the government. Tax buoyancy measures the total response of tax revenues to changes in national income