Economics · Economy

Consider the following statements regarding the theoretical foundations and structural classification of the public budget: A. The Balanced Budget Multiplier theorem, also referred to as the Haavelmo Effect, was independently demonstrated in 1945 and posits that the multiplier is exactly equal to one under the assumptions of a closed economy and lump-sum taxation. B. In the classification of the Indian Union Budget, non-tax revenue receipts include collections from fees and fines, while the repayment of debt and capital formation are categorized as capital expenditure. Which of the above statements is/are correct? Select the code for the correct answer from the options given below: