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Explain the difference between the following two expressions:
Y = C(Yd)+ I + G + CA(EP /P,Yd)and
Y = C + I +G + CA
Income Security
A measure of an individual's or family's financial safety, ensuring a stable source of income to meet basic needs.
Tax Revenue
Tax revenue is the income collected by government through various forms of taxes from individuals and businesses to fund public services and infrastructure.
Personal Income Taxes
Taxes levied on individuals or households based on their income level, contributing to government revenue and affecting disposable income.
Corporate Income Taxes
Taxes imposed by governments on the income earned by businesses and corporations.
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