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Discuss the “leaky bucket” analogy (in the “The Trade Off between Equality and Efficiency” section) with your classmates. What maximum amount of income would you personally allow to leak from the bucket in transferring money from the rich to the poor? Explain why people differ in their answers to this question.

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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 20, Problem 1DQ
Textbook Problem
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Discuss the “leaky bucket” analogy (in the “The Trade Off between Equality and Efficiency” section) with your classmates. What maximum amount of income would you personally allow to leak from the bucket in transferring money from the rich to the poor? Explain why people differ in their answers to this question.

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