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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

How can government change the distribution of income?

To determine

 The government measures for the change in the distribution of income.

Explanation

Individual income includes certain factors such as labor income, asset income, transfer payment, and taxes as follows:

Individual income=Labor income+Asset income+Tranasfer paymentsTaxes

Usually, there exist inequalities in the factors that determine the individual income. Labor income is the amount of wage and asset income is the returns on saving, investment, and land

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