Asked by

Nadine Gordon
on Nov 26, 2024

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Greater income equality that is achieved through the redistribution of income is thought to

A) stimulate innovation and entrepreneurship.
B) promote economic efficiency in the economy.
C) increase incentives to work, save, and invest in the economy.
D) come at the opportunity cost of reduced production and income.

Redistribution of Income

Economic policies or mechanisms intended to adjust the distribution of wealth or income in a society.

Income Equality

Income equality refers to a scenario where earnings are distributed evenly across a population. It is the opposite of income inequality where earnings are unequally distributed.

Economic Efficiency

A measure of how well resources are utilized and allocated to maximize productivity and meet the needs and wants of society.

  • Acknowledge the decisions between maximizing economic effectiveness and ensuring equitable income distribution.
  • Acquire insight into how income redistribution affects economic incentives.
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DD
dawes dayesNov 26, 2024
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