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: 4

Answer

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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.
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