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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Identify some public policies that can reduce the level of economic inequality.

To determine

Public policies that can reduce the level of economic inequality.

Explanation

Several public policies can help to reduce the level of economic inequality.

  1. One such policy is the increase in minimum wage. Increasing the minimum wage helps people out of poverty and increases the nation’s overall real income.
  2. Simple wealth redistribution is one policy that would reduce income inequality. This means taking income from the wealthy and giving it to the less wealthy.
  3. Commonly used method of allocating income and wealth is through a progressive income tax that funds public service...

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