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on Nov 16, 2024Verified
When incentives to earn income are distorted by income redistribution programs,
A) losses cannot exceed potential gains from greater equality of income.
B) total income in an economy will not fall.
C) total utility in society will definitely rise.
D) total utility in society can fall.
Income Redistribution
Economic policies or mechanisms designed to transfer income and wealth from certain individuals or groups to others to achieve social or economic objectives.
Total Utility
The total satisfaction or benefit received by consuming a certain amount of a good or service.
- Analyze the impact of income redistribution on societal welfare and individual utility.
Verified Answer
DM
Learning Objectives
- Analyze the impact of income redistribution on societal welfare and individual utility.
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