--%>
Assignment Help - homework help

Elucidate redistribution of income

Elucidate redistribution of income?

E

Expert

Verified

1. Transfer payments provide relief to the poor, dependent, handicapped, and unemployment compensation to those unemployed who qualify for benefits.  Social Security and Medicare programs support the sick and aged.

2. Government intervenes in markets by modifying prices.  Price support programs for farmers; minimum wage laws are examples.

3. Taxation takes a larger proportion of incomes of the rich than the poor.

   Related Questions in Business Economics

  • Q : When productive resources are utilized

    While productive resources are utilized efficiently: (w) prices greatly exceed production costs for current outputs. (x) opportunity costs are at their minimums for all goods. (y) domestic production exceeds the value of foreign output. (z) the value

    		•
  • Q : Micro economics and macro economics

    Micro economics and macro economics:Economic theory can be widely divided into micro and macroeconomics. The word micro means small and macro means big.In microeconomics, we deal

    		•
  • Q : What are patent rights Patent rights :

    Patent rights: It is a unique license or right granted to a company or an Individual to make a specific product or utilize a specific technology.

    		•
  • Q : Briefly state the pros and cons of

    Briefly state the pros and cons of Proprietorship?

    		•
  • Q : Production possibilities curve is a

    How a production possibilities curve is a graphical representation of choices?

    		•
  • Q : Cornerstone of typical economic theory

    The cornerstone of typical economic theory derived through the work of Jeremy Bentham was the perception of (i) the wages fund. (ii) natural checks on population. (iii) increasing cost. (iv) utility. (v) surplus value.

    Q : Definition of Full Employment

    Definition of “Full Employment”?

    		•
  • Q : Describe four important areas to

    Describe four important areas to emphasize Expenditures?

    		•
  • Q : High-convexity portfolios outperform

    An important drawback of "traditional yield spread analysis" is the "failure to take into account future interest rate volatility that would affect the expected cash flow" of a fixed income security. How does option adjusted spread analysis correct for the "failure" of traditional yield spread analy

    		•
  • Q : David Hume statement regarding money in

    In modern parlance, David Hume statement regarding money which is Tis none of the wheels of trade. And tis the oil, was referring to the notion that money: (i) is relatively costly to produce. (ii) facilitates divisions of labor and specialization and

    		•