Economic functions of government flashcards

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How would government lessen income inequality By providing transfer payments to the poor, directly modifying market prices as, for example, by establishing a legal minimum wage, and using the tax system to tax the wealthy relatively more heavily than the poor
The U.S. Food Stamp program, which provides coupons that allow low-income individuals to buy food, is an illustration of the redistribution function of government
What do governmental economic policies and programs affect the distribution of income, the allocation of resources, and the composition of output

How would government lessen income inequality

The U.S. Food Stamp program, which provides coupons that allow low-income individuals to buy food, is an illustration of

What do governmental economic policies and programs affect

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