Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 21 - Income Inequality, Poverty, and Discrimination - Discussion Questions - Page 486: 4


The answer is below.

Work Step by Step

The distribution ends up being more spread over a given year than a lifetime distribution because of transfer payments. These are payments that are not paid for a good or service but are received by a producer, such as subsidies.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.