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Maslowich
3 years ago
5

Consider an economy with only two groups of​ people: Wage earners and Goods sellers. If the price level increases by​ 20% while

the nominal wages remains the​ same, A. income will be redistributed from goods sellers to wage earners. B. income will be redistributed from wage earners to goods sellers. C. no income redistribution will occur as nominal wages are same as before. D. real wages will not be affected as nominal wages remained the same.
Business
1 answer:
lubasha [3.4K]3 years ago
7 0

Answer:

Income will be redistributed from wage earners to goods sellers.

Explanation:

In this instance there are only 2 parties in the economy, the wage earners (buyers) and the seller's.

When there is a price increase by 20% the sellers gain more because they are getting 20% higher on their previous sales.

On the other hand the buyers or wage earners now have to pay more with a constant wage for goods. Their purchasing power is reduced.

So income is being redistributed from the wage earners to the sellers in this economy.

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Answer:

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However, because they are aged (above 65), and their taxable income -which should be $32000 after deductions - is less than the percentage tax relief,they are exempted from paying tax for that particular year.

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nataly862011 [7]

The government website in which it is listed that the aforementioned names were employees is the <u>USPS</u>.

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The USPS website can therefore confidently claim that at some point or the other, all three names mentioned above used to work for them.

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