What is the difference between the functional and the personal distribution of income?
What will be an ideal response?
The functional distribution of income shows how total income is divided among the factors of production. The personal distribution of income shows how total income is divided among households.
Economics
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A real cost of tariffs and quotas that is difficult to measure is that they
A) encourage rent seeking. B) shift income from consumers to producers. C) limit the quantity of imports. D) reduce wages.
Economics
The best example of a direct tax is a(n)
a. excise tax. b. liquor tax. c. sales tax. d. income tax.
Economics